Sinotruk raises maximum proceeds from IPO

The declining secondary market has little impact on the truck manufacturer, as strong demand from investors allows it to price its offering at the top.

Sinotruk Hong Kong, ChinaƆs largest heavy truck manufacturer, has become the latest company to price its Hong Kong initial public offering at the top of the range, allowing it to raise HK$9.04 billion $1.16 billion.

The top-end pricing was no great surprise after sources said the current declining trend in the secondary market had little noticeable impact on the order flow. While no subscription ratios were available for the institutional book, it reportedly contained a large portion...

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