Ronshine China kicks off 2016 with $233m HK IPO

The Fujian property developer battled through volatile markets to price the year's first initial public offering in Hong Kong.

Chinese property developer Ronshine China Holdings braved turbulent stock markets on Thursday to price Hong Kong's first initial public offering of 2016.

The Fujian-based mid-to-high end developer raised HK$1.81 billion $233 million after settling the final offer price for 337.5 million shares at HK$5.36 per share, the lowest end of an indicative range that went as high as HK$6.13, sources familiar with the situation said.

The deal marks a solid start for Hong Kong, the world's largest IPO fundraising hub last year, as it looks to retain its crown this year against the likes of New York, London, and Shanghai.

The...

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