Tiangong triggers buying spree

The Chinese special steel manufacturer draws more than $15 billion worth of orders for its $105 million IPO.

Chinese special steel manufacturer Tiangong International Company has priced its Hong Kong initial public offering at the top of the range for a total deal size of HK$826.8 million $105.7 million, after receiving overwhelming demand from the market.

The privately owned special steel manufacturer produces and sells high-speed steel HSS, die steel and cutting tools. High speed steel and die steel are used for specific industrial applications such as the manufacturing of automobiles, machinery and cutting tools....

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