China Logistics raises $433m with feisty pricing

The Chinese warehouse and logistics parks operator adopts aggressive pricing on its IPO despite an underwhelming response from investors.

China Logistics raises $433m with feisty pricing

China Logistics Property stunned the market on Thursday by pricing its HK$3.4 billion $433 million Hong Kong initial public offering at the top-end of price guidance, despite a less-than-stellar order book.

Final pricing for the 1 billion-share deal was settled at HK3.25 per share, at the highest end of the guidance range that went as low as HK$2.55.

Such aggressive pricing is in stark contrast to other recent share...

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