Hua Hong launches IPO

Chinese foundry manufacturer launches rare IPO from the hard tech sector against a tumultuous backdrop in Hong Kong.

The retail component of an initial public offering worth up to HK$2 79 billion ($360 million) by the world's second-largest 200mm wafer manufacturer, Hua Hong Semiconductor, opens in Hong Kong on Friday  

The 228 7 million share deal comes at a time when all eyes are on the protest movement in Hong Kong and its potential repercussions across the city, mainland China and global financial markets However sources close to the deal remain confident in the strength of the order book

This belief is based on the extensive work the company conducted with a number of key global accounts in the run up to roadshows and the correspondingly narrow valuation range, which reflects the level of...

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