Guotai Junan raises $226 million from Hong Kong IPO

Strong retail interest boosts the retail tranche to 40% of the deal, while price sensitive global investors keep the price below the mid-point of the range.

Guotai Junan International, the Hong Kong arm of Chinese brokerage firm Guotai Junan Securities, has raised HK$1.76 billion $226 million from an initial public offering in Hong Kong after fixing the price below the mid-point of the range.

Sources said the deal was multiple times covered at the top end, but there were supposedly a few global long-only accounts that were unwilling to pay more than the HK$4.30 per share where the price was eventually fixed. And in...

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