Feiyu prices HK IPO mid-range

The Chinese mobile game developer and operator was two times oversubscribed, with the majority of investors mainland institutions.

Feiyu Technology International, the Chinese mobile game developer, priced its Hong Kong initial public offering at the mid-point on Monday after an accelerated bookbuild.  

The company sold 300 million shares at HK$2.20 per unit, the middle of the initial HK$1.85 to HK$2.55 per share range, raising $85 million in the process. The book was two times oversubscribed, with the majority of investors being mainland institutions, according to bankers close to the deal.

“The stock went to a pretty good mix of Chinese corporates and institutions, as well as international institutions, although the book was definitely more skewed towards Chinese funds,” said one...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222