Jinmao seals IPO at bottom of range

Tight allocations for yield play, which failed to overcome concerns about the Chinese property market.

Hotels group Jinmao Investments and Jinmao (China) raised HK$3.2 billion ($414 million) from its Hong Kong listing on Wednesday after pricing a 600 million-share stapled unit deal at the bottom end of its indicative 30-cent range.

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