Towngas China raises $122 million from primary share placement

The utility company’s deal draws robust demand and prices at the top of the range, as investors welcome the liquidity event.

Hong Kong-listed Towngas China has raised HK$946.5 million $122 million from a primary share placement, after fixing the price at the top of the indicative range.

The share sale was conducted yesterday through an accelerated bookbuild. The deal launched just before 2pm Hong Kong time after the stock was suspended from trading and closed in about three hours.

Demand was strong with 91 lines in the order book, a source said...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: placement | follow on | utility | gas | hsbc | ubs

Print Edition

FinanceAsia Print Edition