The Hong Kong-dollar denominated offer, which was completed last Friday, came on the heals of a strong run-up in the share price over the past four months and only six months after the controlling shareholders cashed in part of their holdings, which likely contributed to the somewhat lukewarm reception for the top-up placement. The CB, though, was in great demand which allowed sole bookrunner Merrill Lynch to increase the original size by 84%.
The bookrunner also attached an...
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