engineering

The Sinopec unit prices its offering towards the low end of the range to raise $1.8 billion. Retail investors are allocated 7.5% as strong demand triggers a clawback.

The unit of Sinopec Group and China Galaxy Securities kick-start the city’s muted IPO market. Sinopec Engineering’s deal would be the biggest in Hong Kong this year.

Robust demand leaves both the retail and institutional tranches heavily oversubscribed and allows the state-owned engineering contractor to raise $500 million from the offering.

The Chinese engineering company, which has signed up three cornerstone investors for a combined $50 million, seeks to raise up to $273 million from the offering.

The state-owned engineering contractor seeks to raise up to $500 million, of which PICC and four other cornerstone investors will take a combined $165 million.

The Chinese natural gas producer blames a challenging IPO market, while Zhengzhou Coal’s stock slides nearly 9% in its trading debut.

Amid weak market sentiment, Chalieco draws lacklustre demand from retail investors and fixes the price at the bottom of the range.

The Hong Kong offering comes armed with six cornerstone investors and enough anchor demand to cover the entire base deal at launch. Separately, China Nonferrous Mining will resume its IPO today after securing a similar level of demand.

Malaysia Marine and Heavy Engineering, which constructs oil and gas rigs among other things, is the first of two Petronas units to seek a listing this year.