Lee and Man prices IPO

Lee & Man follows Weiqiao''s success with another well received IPO from Hong Kong.

A HK$781.9 million $100 million IPO for Lee Man Paper Manufacturing has been completed by bookrunner CLSA. The 187.5 million share deal was priced at HK$4.17 per share, towards the top end of its HK$3.33 to HK$4.50 indicative range.

There is also a 28.12 million share greenshoe, although the percentage of issued share capital will not change even if it is exercised in full, as chairman Patrick Lee has an option to top...

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