Digitel prices shares in IPO at mid-range HK$1.05

Digitel Group, an applications service provider, priced shares in its intitial public offering at HK$1.05 each to raise HK$105 million ($13.4 millon). The price was roughly at the middle of the indicative range of between HK$0.95 and HK$1.10. The funds will be used to develop web-based applications and infrastructure and to invest in potential partners.