Weiqiao Textile brings follow-on offering
Decent demand suggests textile trade dispute no longer an issue.
Hong Kong-listed Weiqiao Textile has taken advantage of a 12-month high in its share price to raise HK$830.2 million $107 million from the sale of new H shares, which it will use to expand its production capacity of denim.
While there was no shortage of demand, investors seemed a bit wary of the price, and the Morgan Stanley-led sale was completed at the bottom end of the price range at a 5.5% discount to the rate at which the...
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