Vietnamese motorbike maker prices IPO

Vietnam Manufacturing and Export Processing attracts investors to its Hong Kong IPO by focusing on the consumption growth story in its home market.

Vietnamese scooter and cub motorbike maker Vietnam Manufacturing and Export Processing VMEP has priced its Hong Kong initial public offering below the middle of the range, raising HK$851 million $109 million.

The price was set yesterday at HK$3.75, compared with a range of HK$3.61 to HK$4.64. According to a source, the institutional book was multiple times covered while the retail portion was around three times subscribed. The demand primarily came from Asia, possibly because investors...

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