Kerry Logistics sets range for up to $284 million IPO

The spin-off from Kerry Properties will be fully covered when it opens today after attracting a lot of interest from international investors. Meanwhile, bankers start investor education for China Everbright Bank.

Kerry Logistics Networks will start the management roadshow and institutional bookbuilding for its Hong Kong initial public offering on Monday and has set a price range that will allow it to raise between $245 million and $284 million, according to sources.

The logistics service provider is being spun off from Hong Kong-listed Kerry Properties, which is also distributing close to 44% of the company to its existing shareholders free of charge.

Like several IPOs coming to market in the past few weeks and the upcoming offering by China Everbright Bank, the deal will be fully covered at the time of launch by anchors and other order...

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