Great wall of money powers GWA

Great Wall Auto overwhelmed by retail interest despite the threat of lawsuits from Nissan.

BNP Paribas Peregrine priced a 114 million share IPO for Great Wall Auto (GWA) just off the top of its indicative range yesterday after receiving demand in excess of HK$184 billion ($24 billion) for the HK$1 52 billion ($195 million) deal

After marketing the offering at HK$10 05 to HK$13 40 per share, pricing was settled just below the top of the range at HK$13 30 in order to give the deal a secondary market kicker This was hardly needed, however, given levels of investor demand, not seen since the bubble days of pre-handover Hong Kong and the dotcom era

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