Fufeng prices IPO at the top of the range after heavy demand

The producer of food additives sees its retail tranche 630 times covered, while local brokerages pile into the institutional portion of the $114 million deal.

Hong Kong retail investors left nobody in doubt that they are still happy buying into new share offerings when they submitted orders for 630 times the amount of shares earmarked for them in Fufeng GroupÆs IPO.

The offer was quite small at only HK$892 million $114 million even after being priced at the top end of the range, but the size of the demand û which was well above that received for the IPOs of both Wuyi...

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