Car-trading platform Yixin Group is the latest high-performance Chinese startup to get investor pulses racing after it raised HK$6.8 billion $867 million from an initial public offering of shares that left fans wanting more considerably more and extends the Hong Kong stock exchange's hot streak.
The retail tranche was oversubscribed 560 times, triggering a clawback mechanism that expanded the retail portion to 307 million shares from an initial 87.8 million shares.
Sources familiar with the company said the institutional tranche was also oversubscribed multiple times across the entire marketed range of HK$6.6 to HK$7.7 per share, with...
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