Qingdao Port adds more relief to HK IPO market

The state-owned port operator raises US$377m ahead of its Hong Kong listing.
Qingdao Port
Qingdao Port

Qingdao Port International raised US$376.6 million ahead of its Hong Kong initial public offering on Friday, adding some relief to the market following the pulled listing of pork producer WH Group.

The state-owned port operator sold 776.4 million new shares at a fixed price of HK$3.76 under the lead of BOC International, Citic Securities International and UBS. This represents 16.5% of the enlarged share capital, valuing the company at US$2.28 billion. There were also 70.58 million secondary shares on offer.

It is the second successful IPO since pork producer WH Group scrapped its highly anticipated offering one month ago after the issuer refused...

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