Legend completes Digital China spin-off

Computer distributor Digital China begins trading on the Hong Kong Stock Exchange today (Friday) following the successful completion of its IPO.

 

The Goldman Sachs-led deal is expected to make a strong debut after recording healthy oversubscription levels on both its institutional placement and retail offering. Raising HK$324.7 million $41.74 million in new money, the 88.26 million share deal represented 12% of the company's equity and was priced on Monday, with a 60%40% split between institutional and retail investors.

We instituted a clawback from the institutional book after the retail offering closed 82.9 times oversubscribed,...

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