Solomon Systech IPO defies gloom

Hong Kong''s first large fabless IC design company prices at HK$1.75.

Despite the end of Hong Kong's IPO bull market in March, the Territory's first large fabless IC design company managed to raise $135.3 million pre greenshoe Wednesday, after pricing its shares midway in the HK$1.60 to HK$2.05 range.

Led by JP Morgan, with CLSA and BNP Peregrine Paribas as co-leads, the company sold 603.58 million shares of which 56% were primary shares.

Both the retail and institutional books are believed to have closed twice...

To continue reading, please login or register for free

Click for more on: solomon | systech | ipo | defies | gloom

Print Edition

FinanceAsia Print Edition