China Ting threads together demand

Strong momentum propels IPO.

OEM silk manufacturer China Ting raised HK$1.01 billion $130 million from a 75 million share IPO on Friday December 9. The BNP Paribas Peregrine led deal was priced at HK$2.025, just above the mid point of its HK$1.80 to HK$2.20 range.

Despite strong subscription levels, the company decided to play it safe with pricing in a nod to an IPO market, which is currently driven more by momentum than fundamentals. The...

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