Euro-Asia Holdings flowers towards top of range

Beijing''s winning bid for the 2008 Olympics is likely to spur the grey market price of Chinese flower grower and agri-tech company, Euro-Asia Agricultural Holdings.

In a deal led by ICEA Capital, Euro-Asia Agricultural Holdings priced a 400 million share deal last Friday at HK$1.48 per share. Raising proceeds of HK$592 million $76 million, the deal priced in the upper half of a HK$1.31 to HK$1.55 indicative range.

Bankers comment that the recent poor aftermarket performance of Hong Kong IPOs led the company to hold back a little on pricing at the very top end of the range...

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