greentown-prices-ipo-at-midpoint-amid-improving-markets

Greentown prices IPO at mid-point amid improving markets

The property developer raises $344 million after healthy demand by institutional investors.
In another sign that confidence is returning to the equity markets, Greentown China Holdings on Friday July 7 priced its initial public offering at the mid-point of the range after sources said the institutional part of the deal was seven to eight times covered.

The shares, which were offered in a range between HK$6.57 and HK$9.86, were sold at HK$8.22 each for a total deal size of HK$2.67 billion $344 million.

A pickup in the secondary markets over the past week amid a growing belief that US interest rates are close to the peak and wonÆt pose a threat to economic growth, was seen to have underpinned the strong interest...
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