sichuan-bookstore-prices-ipo-at-the-top

Sichuan bookstore prices IPO at the top

The company raises $274 million after expectations of sector liberalisation and consolidation spark strong interest from investors.
Sichuan Xinhua Winshare Chainstore, which will be the first bookstore operator to list in Hong Kong, has priced its initial public offering at the top of the range for a total deal size of HK$2.2 billion $274 million.

The pricing at HK$5.80 per share was no surprise after the offering attracted about $14 billion in total demand as investors were keen to get some exposure to ChinaÆs highly regulated book publishing and distribution industry at a time when it is undergoing extensive market-opening reforms.

The listing candidate also got a boost after China announced a week ago that it would expand its qualified domestic institutional investors QDII scheme to also allow commercial...
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