Investors are watching with interest the ongoing IPO of Li
Fung subsidiary Convenience Retail Asia, which operates the Hong
Kong convenience store chain, Circle K. The offering, on Hong
Kong's growth enterprise market GEM, looks to be a bargain,
according to BNP Paribas Peregrine BNP director Darius Yuen.
The offer price range of between HK$1.05 $0.13 and HK$1.15,
representing a price-earnings PE ratio of 13.09 to 14.13, is