China Moly prices $943 million IPO at the top

Positive sentiment for the specialty metals sector overshadows lack of discount versus its main Hong Kong-listed comparable.

As the bookrunners had already flagged that there was solid interest by increasing the upper end of the price range by 6.3% three days into the roadshow, it came as no surprise that China Molybdenum’s IPO was priced at top end.

The price was fixed at HK$6.80 for a total deal size of HK$7.3 billion $943 million, which makes China Moly the third largest Hong Kong IPO so far this year...

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