iKang prices Nasdaq IPO at top end

The Chinese healthcare group benefits from renewed buying interest in mainland stocks.

iKang Healthcare Group has raised $153 million after pricing its US IPO at the top end of its $12 to $14 indicative price range. A 10.9 million ADR offering was priced at $14 per unit just after the New York close on Tuesday by joint leads Bank of America Merrill Lynch and UBS.

Two ADS units equal one share and there is also a 15% overallotment option. The institutional book is said to have been multiple times oversubscribed, with bankers close to the deal noting there were hundreds in the book early Wednesday morning Hong Kong time. The deal had a 70%30% split between primary and secondary shares....

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