Boer Power receives strong demand for Hong Kong IPO

The deal is multiple times covered by institutional investors, while Hong Kong retail investors subscribe to 341 times the shares earmarked for them, according to sources.

Boer Power Holdings, a Chinese electrical distribution systems and solutions provider, has raised HK$1.19 billion $154 million from a Hong Kong initial public offering to expand its sales network, construct new production capacity and purchase equipment.

The deal received strong demand from both institutional and retail investors during the offering period, which lasted just over one week the institutional bookbuilding opened on October 4. The institutional tranche was multiple times covered and the Hong Kong public offering was 341 times subscribed by retail investors, according to sources. 

Boer sold 187.5 million shares, all primary. Initially, 10% of the offering, or 18.75 million shares, were earmarked for retail investors, but the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222