Another Chinese retailer prices IPO at the top

Chinese hypermarket and supermarket operator Times pockets $113 million for expansion, including the opening of 18 new stores.

Three months after Wumart Stores called off a share acquisition agreement that would have provided the company with cash as well as access to the capital markets, Times Limited has raised much needed funds through a share offer of its own.

The Chinese hypermarket and supermarket operator obtained the maximum HK$880 million $113 million from a Hong Kong initial public offering, after fixing the price at the top of the range. A 15% greenshoe could increase the deal size...

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