Retail books open for Cosmo Lady IPO

The retail tranche opened for China's leading lingerie maker on Monday, with the institutional book already multiple times oversubscribed.

Retail books opened on Monday for an initial public offering of shares by Chinese lingerie maker Cosmo Lady as the Hong Kong market continued its recent flurry of new deals.

Cosmo Lady aims to raise $232 million this week by pricing 406 million shares between HK$3.27 and HK$4.42 per unit.

The institutional book, which opened last Thursday, is already roughly three times covered, with most of the demand coming in at the lower- to middle-end of the price range, according to a source familiar with the deal. 

Bankers told FinanceAsia that they anticipate a decent level of retail investor...

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