Rongsheng completes third largest IPO in Hong Kong this year

The Chinese shipbuilder raises $1.8 billion after pricing in the lower half of the range, while manganese producer Citic Dameng sells $266 million worth of shares in a deal popular with both institutions and retail investors.

Two more initial public offerings priced in Hong Kong on Friday, pushing the year-to-date IPO volume in this market to $45.6 billion and increasing the gap versus the previous IPO fundraising record of $43 billion, which was set in 2006.

The biggest of the two was China Rongsheng Heavy Industries Group, a Chinese shipbuilder, which raised HK$14 billion $1.8 billion in what was also Hong Kong’s third largest initial share offering this year after AIA Group and Agricultural Bank...

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