Sunshine Oilsands and AviChina raise a combined $740 million

Sunshine Oilsands' IPO in Hong Kong prices at the bottom of the range and attracts poor demand from retail investors, while the steep discount on AviChina attracts investors.

Sunshine Oilsands and AviChina raise a combined $740 million

Activity in Hong Kong’s equity market surged on Friday as Calgary-based Sunshine Oilsands raised HK$4.49 billion $580 million from its initial public offering and AviChina Industry Technology, a Chinese maker of helicopters and trainer jets, raised HK$1.21 billion from an H-share placement.

Sunshine Oilsands’ IPO was bolstered by a $350 million commitment by three cornerstone investors. The company sold 923 million new shares, or about 32% of the share capital. The deal...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...