Little Sheep sets IPO price at the mid-point

Strong interest from retail investors helps the Chinese restaurant chain raise $100 million and triggers the first clawback on a Hong Kong IPO in three months.

China's largest restaurant chain, Little Sheep, attracted strong demand for its initial public offering and has set the price at the middle of the range at HK$3.18 per share for a total deal size of HK$779.1 million $100 million. Over the past few months, most IPOs have been pricing at or near the bottom of the range, making this deal something of a hit.

A source close to the offering says interest was so strong that...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition