Zhong An lifts IPO price range by 6.7%
The increase comes after fellow listing candidate Alibaba attracts massive demand and the Hang Seng Index rallies 11% in five days to surpass the 31,000-point mark.
With the Hong Kong stockmarket setting new records virtually on a daily basis, it is no wonder that listing candidates are getting a bit braver in terms of valuations. Yesterday, Zhong An Real Estate raised the top end of its price range by 6.7% in an attempt to make the most of the investor interest and the huge amount of cash that appears to be available for initial public offerings at the moment.
The increase, which will lift the maximum...
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