Hong Kong's first post-summer IPO draws sizeable crowd

Sportswear manufacturer and distributor Win Hanverky raises $88 million after fixing the price 25% below the top end.

Win Hanverky Holdings has set the Hong Kong IPO market off to a good start after the summer lull with a deal that received strong support from both institutional and retail investors.

The company may also have ensured a good aftermarket performance by fixing the price 25% below the top end of the range despite sources saying there was very little price sensitivity in the book.

However, at HK$684 million $88 million some bankers argued that the offer was...

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