Shenguan Holdings prices at the top to raise $160 million

The manufacturer of edible sausage coating shows there is still enough demand for Hong Kong IPOs to price at the top.

Shenguan Holdings Group has raised HK$1.24 billion $160 million ahead of its listing on October 13. The sausage coating manufacturer conducted its roadshow during a period in which all Hong Kong initial public offerings fell in the secondary market, but despite this, Shenguan still managed to price at the top of its indicative range.

The IPO consisted of 400 million shares that were offered in a range between $2.10 and HK$3.10. If a 15% greenshoe is fully exercised,...

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