byd-electronic-completes-difficult-ipo

BYD Electronic completes difficult IPO

A few anchor investors step up to carry the deal through at the bottom of the range, but retail investors turn their backs.
BYD Electronic, a manufacturer of mobile handset casings and keypads, has completed a difficult initial public offering that was marred by accusations from a competitor that the company has obtained and misused confidential information that doesnÆt belong to it.

Coming at a time when institutional investors are generally winding down their businesses for the year, the deal also faced a shrinking pool of prospective buyers, but sole bookrunner UBS was able to convince enough investors to hear the management out and to ensure that it was fully covered.

The bank was unable to do much about the price sensitivity though and the final price was fixed at the bottom of the HK$10.75 to HK...
¬ 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