State-controlled China Energy Engineering Corp. has raised US$1.8 billion from its listing Hong Kong, joining the ranks of other Chinese companies forced to price initial public offerings there at the lower end of their price range in response to lukewarm investor interest, The Wall Street Journal reported. Other tepid debuts include those of Bank of Qingdao (US$607 million) and Bank of Jinzhou (US$794 million), with the latter pricing its IPO only HK$0.02 cents above its price range’s bottom end. Snack and beverage firm Dali Foods Group managed a US$1.15 billion float, the largest of any privately-owned Chinese enterprise this year–but still far from its price range’s high end.
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