Top Spring raises $200 million, Hilong postpones IPO

Top Spring, a Chinese property developer, prices its shares at the bottom of an indicated range, while Hilong postpones its planned $190 million IPO, blaming market conditions.

Top Spring International Holdings, a Chinese property developer, raised HK$1.56 billion $200 million in a Hong Kong initial public offering after pricing its shares at the bottom of the indicated range.

Meanwhile, Hilong Holding, a leading provider of oilfield equipment and services in China, postponed its planned HK$1.48 billion $190 million Hong Kong IPO, blaming the weak market conditions.

Top Spring’s deal has done well considering the odds stacked...

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