drug-maker-and-pcb-manufacturer-launch-first-hk-ipos-for-2007

Drug maker and PCB manufacturer launch first HK IPOs for 2007

Hong Kong companies Wuyi Pharmaceutical and Meadville seek to raise a combined $265 million with trading debuts scheduled for the first two days of February.
Meadville Technologies and Wuyi Pharmaceutical yesterday kicked off the institutional roadshows for their respective initial public offerings, marking the first two IPOs to hit the Hong Kong market this year.

Aiming to raise up to $265 million between them, the deals are still relatively small, but will offer the first real test of whether the investor enthusiasm for IPOs has carried over to the new year. Copper and magnet wire producer Tai-I International, whose $32 million IPO was launched in December but completed and priced in early January, said the retail portion of its offer was more than 100 times covered while the institutional tranche was ôsignificantly oversubscribed,ö suggesting that demand probably remains...
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