Strong institutional orders and frantic retail demand enabled herbal shampoo maker Bawang International to price its initial public offering at the top of the range and to raise HK$1.6 billion ($215 million) ahead of its listing on July 3. The 700 million shares on offer were priced at HK$2.38 each, the top of an indicative price range of between HK$1.95 and HK$2.38. If the 15% greenshoe is exercised in full, a further 105 million shares could be injected into the deal, bringing the maximum possible deal size to $247 million. Retail demand was so ...