bbmg-draws-massive-demand-for-768-million-ipo

BBMG draws massive demand for $768 million IPO

The offering is the second most popular IPO with Hong Kong retail investors ever, giving the issuer little choice but to price at the top.

Investors who have been reading the Hong Kong press over the past week wouldn't have been surprised to learn that BBMG Corp's $768 million initial public offering ended up being one of the most sought after Hong Kong IPOs ever. Not only did several Hong Kong tycoons reveal that they had applied for a large number of shares in the offering, but Hong Kong's de-facto central bank also had to intervene twice this week to prevent the heavy inflow into the Hong Kong dollar from pushing the currency outside its pre-set trading band against the US dollar.

According to sources, IPO subscriptions from Hong Kong retail investors, which would have included at least some...

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