China New Higher Education prices IPO

Deal prices 33% through the IPO range as company decides not to push the valuation to the detriment of secondary market trading.

China New Higher Education prices IPO

China New Higher Education CNHE priced its Hong Kong initial public offering late on Monday night, raising HK$915 million $117.88 million post-greenshoe.

The 329.153 million primary share deal including the greenshoe was priced at HK$2.78 per share, 33% through the HK$2.56 to HK$3.22 marketed price range. 

The retail order book is said to have closed two times covered, which means no clawbacks have been triggered and local...

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