China Nonferrous pushes $247 million IPO across the line

It did take a while, but yesterday copper miner China Nonferrous Mining Corp (CNMC) finally priced its initial public offering slightly above the bottom of the range to raise HK$1.91 billion ($247 million). The pricing came as the Hong Kong stock market eked out a modest gain for the first time in four days, but neither of these two developments changes the fact that the appetite for IPOs is close to rock bottom.