Sunny Optical attracts strong demand for IPO

The optical components manufacturer raises $132 million after attracting hefty demand from investors.

Sunny Optical Technology, which will be the first Chinese optical components manufacturer to list in Hong Kong, has priced its initial public offering at the top of the range for a total deal size of HK$1.03 billion $132 million.

When the public offer closed on June 7, the 10% retail tranche was 290 times covered, which equals about $3.8 billion HK$29.9 billion worth of demand, according to a source. This triggered a full clawback, which increased the...

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