Hua Hong prices IPO towards bottom

Chinese foundry manufacturer completes deal as Hong Kong equity markets stabilise.

Hua Hong prices IPO towards bottom

Chinese foundry manufacturer Hua Hong Semiconductor priced its 228.7 million initial public offering towards the bottom end of its price range on Thursday. The Goldman Sachs-led deal raised HK$2.57 billion $330 million pre-greenshoe after pricing was fixed at HK$11.25.

The group had originally marketed its IPO on a HK$11.15 to HK$12.20 range but tightened it one day before pricing to HK$11.15 to HK$11.25. There is also a greenshoe of...

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