maoye-prices-ipo-above-the-low-end

Maoye prices IPO above the low end

The department store operator raises $343 million after fixing the price at HK$3.10 and becomes the first company to complete a Hong Kong IPO in the second quarter.
Maoye Department Store has become the first company to complete a Hong Kong initial public offering in the second quarter, sending a sigh of relief through the market after a series of failed deals and opening the door for numerous other listing candidates in the pipeline.

The department store operator priced the deal at HK$3.10 per share, or 20 HK cents above the bottom of the range, for a total deal size of HK$2.68 billion $343 million. The shares had been offered in a range between HK$2.90 and HK$3.80.

On the one hand, the fact that there was enough demand to set the price above the low end can be...
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