China Harmony Auto raises $215 million from Hong Kong IPO

The luxury car dealer prices at the bottom of the range, while Wuzhou International is forced to reduce the retail portion of its $179 million offering.

China Harmony Auto raises $215 million from Hong Kong IPO

China Harmony Auto, a car dealership group that focuses exclusively on luxury vehicles in China, has raised HK$1.67 billion $215 million from its Hong Kong initial public offering, after fixing the price at the bottom of the indicative range. The stock is set to start trading on Thursday.

The retail and institutional tranches were both fully covered. The institutional portion attracted demand mostly from Asia, including global accounts that placed orders from their Asian...

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