China Travel completes second share placement

Following the success of an earlier placement in May, the parent of red chip China Travel International Investment launches a new deal.

Following the success of an earlier placement in May, the parent of red chip China Travel International Investment launches a new deal. 

With BNP Paribas Peregrine as lead manager, China Travel Services Hong Kong opened books for a 200 million share deal at Asia's close yesterday Monday. Pricing was completed after US books closed at 3am the following day, with a total of 220 million shares including greenshoe priced at HK$1.46 per share.

Raising HK$321.2 million $41.2 million, the deal was priced at a 7% discount to spot and was said to have attracted about 70 institutional accounts and a number of corporate investors. Bankers report that final allocations...

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