Fufeng signs Value Partners as anchor IPO investor
The producer of food additives aims to raise $114 million from a Hong Kong IPO while TPV Technology drops sharply after placement by major shareholder.
Fufeng Group, which kicked off the institutional roadshow for its upcoming Hong Kong listing on Thursday, has signed Value Partners as an anchor investor to help boost sentiment for the stock as it competes with two other similarly-sized IPOs, sources say.
The Hong Kong-based asset manager will buy 80 million shares, or 20% of the IPO, and has agreed to a six-month lock-up. The investment is expected to instill confidence among retail investors in particular on the basis...
To continue reading, please login or register for free