Petro-king attracts strong demand for Hong Kong IPO

The China-based oilfield services company raises $106 million from the offering, while Xinchen China launches its Hong Kong IPO of up to $113 million.

Petro-king attracts strong demand for Hong Kong IPO

Termbray Petro-king Oilfield Services, an independent China-based provider of high-end oilfield services, has raised HK$820 million $106 million from its Hong Kong initial public offering after fixing the price just below the top of the indicative range. The stock is slated to start trading on March 6.

After shunning IPOs last year, Hong Kong retail investors came in to the deal with vigour, continuing a trend seen on other recent deals as well....

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