NVC Lighting seeks $272 million in Hong Kong IPO

The offering attracts many “high-quality” investors from Hong Kong and mainland China during the first two days of bookbuilding, while Giti Tire decides to hold off on the launch of its planned IPO.

NVC Lighting Holdings, one of the leading suppliers of lighting products in China, has started taking orders from institutions for its up to HK$2.11 billion $272 million initial public offering in Hong Kong.

The Guangdong-based company produces luminaire, lamp and other lighting electronics products, which it then sells via distributors. It plans to use the proceeds from the deal to fund market expansion, brand name penetration and product research and development.

Demand for lighting products, particularly energy-saving ones, has seen a rapid surge in China fuelled by the country's dazzling economic growth and fast urbanisation. China's top two power groups, Huaneng Power and Datang International Power, said last month that their power output...

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