Wison Engineering Services, a Chinese engineering company, kicked off its roadshow yesterday for a Hong Kong initial public offering of between HK$1.67 billion and HK$2.12 billion $216 million to $273 million.
Like other recent offerings, Wison has signed up cornerstone investors that are taking up a combined $50 million, or up to 23.1% of the deal. The three cornerstones are Chow Tai Fook Nominee, the investment holding company controlled by Hong Kong tycoon Cheng Yu Tung, and Solar City Holdings, a real estate development and investment company, which have pledged $20 million each and EA Asia Absolute Return Master Fund, which is investing $10 million.
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