Hunan Nonferrous mines strong demand for IPO

Retail fremzy sees offer heavily oversubscribed despite 10% cap on institutional orders.

Hunan Nonferrous Metals has raised HK$1.77 billion $227.5 million from its Hong Kong IPO after fixing the price at the top of the deal's HK$1.20 to HK$1.65 indicative range. Retail investors committed at least HK$124 billion $15.94 billion to the offer. By contrast, Link REIT attracted HK$107 billion of retail interest for an IPO last November that was more than 10 times bigger than Hunan Nonferrous.

Observers say the strong demand was driven by the...

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