Sino-Ocean prices IPO at top to raise $1.5 billion
The pan-Bohai Rim developer receives more than $100 billion in orders as investors flock to new IPOs and coal miner Hidili soars 77% in its trading debut.
Sino-Ocean Land Holdings has fixed the price of its initial public offering at the top end of the HK$6.45 to HK$7.70 range for a total deal size of HK$11.9 billion $1.5 billion, setting a positive example for the other two property developers currently seeking a Hong Kong listing.
The deal met with strong demand from both institutional and retail investors so the pricing came as no surprise. But if there were any lingering concerns that the...
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