Ozner turns on the IPO tap

Demand gushes for the Chinese water purification group's Hong Kong listing as retail books open.

The retail book for a $122 million to $147 million initial public offering of shares by Ozner Water, one of China's largest water purification suppliers, opened on Thursday.

Allocations are expected to be scaled back both for the institutional and retail tranche given the underlying appeal of the company, which is the first of its kind to list on the Hong Kong Stock Exchange.

Fund managers say the small offering size and attractive valuation, combined with the overall appeal of the water sector, are the key drivers behind strong demand. 

The group is offering 25% of its enlarged share capital pre-greenshoe, via a...

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