OOIL deal: Proof Hong Kong families have a price
The sale of the Tung familly's empire to COSCO illustrates Hong Kong's tycoons' willingness to cash in via sales to Chinese SOEs, 20 years after the handover.
July 10, 2017
The Hong Kong listing of China Cosco Holdings (CCH) was priced at the very bottom of its indicative price range on Saturday (June 26) after struggling to attract demand. Under the lead management of HSBC, JPMorgan and UBS, a 2.244 billion share deal was priced at HK$4.25, the bottom of a HK$4.25 to HK$5.75 range.
