Real Gold IPO to raise up to $132 million

Real Gold Mining, a gold mining company based in Inner Mongolia, intends to raise between HK$717 million and HK$1.03 billion $92 million and $132 million via an initial public offering that will commence today. If successful, this will be the first IPO of size to happen in Hong Kong since October 2008.

The price range has been set at HK$4.35 to HK$6.25 a share. The offering represents 25% of the company in the form of 165 million shares, of which 63.2% are primary shares and the remaining 36.8% are secondary. A 15% greenshoe could add another 24 million shares into the deal, which could bump the total proceeds...