Market uncertainty surfaces in pricing of HK IPOs

China's largest independent coalbed methane producer prices IPO at the bottom, while the pricing of furniture retailer China Macalline's float heads to the top.

Market uncertainty surfaces in pricing of HK IPOs

AAG Energy, China's leading independent coal bed methane producer CBM, priced its IPO at the very bottom of its indicative range on Wednesday after being hit by cooling market sentiment and perceptions of a high valuation. 

Joint sponsors CICC and HSBC fixed the IPO price at HK$3 per share compared to an initial range of HK$3 to HK$3.7.

They also cut the greenshoe back by almost by...

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