CPMC and China High Precision IPOs raise a combined $267 million

CPMC encounters high levels of demand as two more small-cap companies succeed in raising capital.

Two Chinese small-cap companies priced their Hong Kong initial public offerings on Friday, raising a combined HK$2.07 billion $267 million. Metal-packaging company CPMC Holdings raised HK$1.07 billion and China High Precision Automation Group CHP tapped the market for HK$1 billion.

CPMC sold 200 million primary shares at HK$5.39 apiece, the top of an indicative range that started at HK$3.85.

Retail investors flocked to the deal, with the Hong Kong public offer approximately 200 times...

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