investors-find-vindas-growth-story-convincing

Investors find Vinda's growth story convincing

The tissue paper manufacturer has no difficulty in pricing its IPO at the top to raise $142 million.
ChinaÆs leading tissue paper manufacturer Vinda International has raised $142 million after pricing its initial public offering at the top of the range, showing investors remain happy to invest in this growing industry.

The institutional tranche attracted over 200 orders, leaving it 56 times covered post-clawback. The clawback, which increased the retail tranche from 10% to 50%, was triggered by strong demand from local Hong Kong investors. When the public offer closed last Friday, retail investors had subscribed to 115 times the shares originally available to them.

A source close to the deal says the book was fully covered on the first day of the roadshow, with approximately 30% of the demand coming from corporate...
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