sino-gold-prices-hk-share-offer-at-zero-discount

Sino Gold prices HK share offer at zero discount

The stock market correction and a high absolute price of HK$42.50 per share lead to muted demand from retail investors.
Sino Gold Mining has fixed the price of its follow-on offering in Hong Kong at a zero percent discount to its Australia-listed stock for a total deal size of HK$894.1 million $115 million, sources said yesterday.

As indicated by the tight pricing, demand for what will be the only pure gold miner listed on the Hong Kong exchange was solid with very little price sensitivity in the book. However, the amount of orders received from retail investors wasnÆt on the same scale as for a typical Hong Kong initial public offering and no clawback was triggered.

Technically, the Morgan Stanley-led deal wasnÆt an IPO since the stock is already listed in Australia, but...
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