rush-for-shares-allows-china-moly-to-lift-its-price

Rush for shares allows China Moly to lift its price

Meanwhile, Mainland institutions prompt a slight narrowing of Citic Bank's price range, shrinking the maximum IPO size.

Listing candidates China Citic Bank and China Molybdenum have both made changes to their price ranges in time for the launch of the retail offerings, resulting in a slight adjustment to their respective offering sizes. However, their reasons for doing so are not the same.

China Moly, which operates one of the largest molybdenum mines in the world, has increased the upper end of its price range to HK$6.80 from HK$6.40, which will lift the maximum proceeds to $943 million HK$7.3 billion from $888 million. If the 10% greenshoe is also exercised, the deal could reach as much as $1.04 billion.

The...

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