Lippo Group's AcrossAsia raises HK$590 million in IPO

AcrossAsia Multimedia, the technology arm of Indonesia's Lippo Group, raised HK$590 million ($75.7 million) in its initial share offering on Hong Kong's Growth Enterprise Market (GEM). Investors followed the lead of such corporate stalwarts as Hong Kong conglomerate Hutchison Whampoa, Softbank of Japan and China Resources, which bought shares prior to the listing.