wuyi-prices-ipo-at-top-end-meadville-in-the-upper-half-of-the-range

Wuyi prices IPO at top end, Meadville in the upper half of the range

The first two Hong Kong IPOs of size this year raise $255 million between them. Retail demand remains strong, triggering full clawbacks on both deals.

Anette Jönsson

January 29, 2007

This yearÆs first two Hong Kong IPOs of size has priced their respective offerings, raising a combined $255 million amid signs that investor demand remains intact, although not quite as indiscriminate as in December.

The fact that both companies operate in highly competitive industries may have capped the interest somewhat, although syndicate analysts argue that both of them have advantages over their peers that is helping to preserve margins.

Wuyi Pharmaceutical, which was the smaller of the two deals, fixed the price of its offering at the top end of the HK$1.20 to HK$1.80 range for a total deal size of HK$801.3 million $103 million. The price came after institutional...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 1 article per month from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222