China Youran Dairy Group raised $643 million in its Hong Kong initial public offering (IPO) by pricing its shares at the bottom of an indicated price range at HK$6.98 each, according to two sources with direct knowledge of the matter.
China Youran Dairy Group raised $643 million in its Hong Kong initial public offering (IPO) by pricing its shares at the bottom of an indicated price range at HK$6.98 each, according to two sources with direct knowledge of the matter.
Chilling effect on Hong Kong IPO market during Chinese investigations
10 Jun 2021, 13:55 GMT+10
HONG KONG: After witnessing a flurry of activity last year and at the start of this year, Hong Kong s market for new stock listings has cooled to its slowest pace since 2009 in the wake of increasing Chinese scrutiny of tech firms anti-competitive business practices.
According to data compiled by Bloomberg News, just seven companies have gone public in the second quarter of this year, the lowest figure since the aftermath of the global financial crisis.
First-day performances of IPOs have also taken a hit, with the initial public offerings of warehouse and distribution company JD Logistics and property manager Central China Management in May showing the worst average debut performance in 15 months, data shows.