bawang-prices-ipo-at-top-raising-215-million

Bawang prices IPO at top, raising $215 million

Frantic retail demand for a piece of the shampoo maker triggers a clawback that increases the Hong Kong public offer to 50% of the deal.

Strong institutional orders and frantic retail demand enabled herbal shampoo maker Bawang International to price its initial public offering at the top of the range and to raise HK$1.6 billion $215 million ahead of its listing on July 3. 
 
The 700 million shares on offer were priced at HK$2.38 each, the top of an indicative price range of between HK$1.95 and HK$2.38. If the 15% greenshoe is exercised in full, a further 105 million shares could be injected into the deal, bringing the maximum possible deal size to $247 million.
 
Retail demand was so strong -- the Hong Kong public offer was over 400 times covered --...

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