Kerry Logistics prices IPO at the top to raise $284m

The spin-off from Kerry Properties attracts massive demand and Cinda jumps more than 25% in its trading debut, confirming the current appetite for China exposure.

Kerry Logistics prices IPO at the top to raise $284m

Kerry Logistics Network has raised HK$2.2 billion $284 million from its initial public offering in Hong Kong after fixing the price at the top of the indicated range at HK$10.20 per share.  

The deal, which is a spin-off from Hong Kong-listed Kerry Properties, attracted massive demand from institutional investors and even top-tier global investors received only a fraction of their orders, sources said. According to one banker, about 60% of the institutional...

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