China Merchants and Jingkelong attract overwhelming demand for IPOs
ChinaÆs largest private-sector bank prices above other Mainland institutions listed in Hong Kong, while JingkelongÆs retail tranche is more than 540 times subscribed.
China Merchants Bank has fixed the price on its H-share initial public offering at the top end of the range at HK$8.55, which pitches it at a slight premium to the average valuation of the other three Mainland banks listed in Hong Kong.
The price was no surprise given the overwhelming demand for ChinaÆs largest private-sector bank, which has a leading position in the fast-growing consumer banking segment of the market.
Sources say the institutional portion of the $2.42...
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