Solomon Systech IPO defies gloom

Hong Kong''s first large fabless IC design company prices at HK$1.75.

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 composed of primary shares)...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222