Despite the end of Hong Kong's IPO bull market in March, the Territory's first large fabless IC design company managed to raise $135.3 million pre greenshoe Wednesday, after pricing its shares midway in the HK$1.60 to HK$2.05 range.
Led by JP Morgan, with CLSA and BNP Peregrine Paribas as co-leads, the company sold 603.58 million shares of which 56% were primary shares.
Both the retail and institutional books are believed to have closed twice covered. Allocations saw 11% go to Hong Kong retail, while 89% went to institutional investors. About 2% of the retail offering was also allocated to company employees.
If the standard 15% greenshoe wholly...