Retail investors flock to IPO by Chinese menswear brand

Evergreen International's retail tranche is 1,231 times covered, making it the most heavily oversubscribed retail offering so far this year.

Yet another Chinese retail consumption play -- Evergreen International -- has received overwhelmingly strong demand from retail investors ahead of its Hong Kong listing. According to a source, the retail portion of the company's initial public offering, which initially accounted for 10% of the deal, ended 1,231 times subscribed, making it the most heavily oversubscribed retail offering so far this year.

The price was fixed at the top of the offering range, allowing the company to raise HK$1.089 billion $140 million.

Evergreen, which is one of the leading menswear enterprises and brand operators in China, attracted lots of interest even before launch and the institutional order book was fully covered...

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