Wuyi prices IPO at top end, Meadville in the upper half of the range

The first two Hong Kong IPOs of size this year raise $255 million between them. Retail demand remains strong, triggering full clawbacks on both deals.

This yearÆs first two Hong Kong IPOs of size has priced their respective offerings, raising a combined $255 million amid signs that investor demand remains intact, although not quite as indiscriminate as in December.

The fact that both companies operate in highly competitive industries may have capped the interest somewhat, although syndicate analysts argue that both of them have advantages over their peers that is helping to preserve margins.

Wuyi Pharmaceutical, which was the smaller of the two deals,...

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