lumena-set-to-price-ipo-at-hk2-per-share

Lumena set to price IPO at HK$2 per share

At that price, which is expected to be confirmed today, the thenardite producer will raise $149 million, making it the second largest Hong Kong IPO this year.

Chinese chemicals company Lumena Resources will become the fourth company of size to list in Hong Kong this year and sources say it seems intent on creating a backdrop supportive enough to allow for a better aftermarket performance than the previous three.

According to sources, Lumena will fix the price of its initial public offering at HK$2 per share, which is well below the mid-point of its indicated range of HK$1.72 to HK$2.56. One source said there was some sensitivity around this level, but added that the total order amount could have supported a higher price -- should the company have chosen to go for that.

Instead, the Sichuan-based company, which is...

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