Zhejiang raises glass to success

After pricing at the top of a revised range, Zhejiang Glass is set to become the first privately-owned Chinese company to list on the main board of the Hong Kong Stock Exchange.

About 360 investors were said to have participated in a deal that saw institutional allocations finalised on Monday. The retail IPO will open on Thursday, running until next Tuesday for listing on December 10.

At HK$2.96 per share, the company has raised HK$452.8 million $58 million from an institutional placement of 153 million shares. The retail offering will comprise a further 17 million shares and there is also a greenshoe of 25.5 million shares.

Nomura lead managed the...

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