sunny-optical-attracts-strong-demand-for-ipo

Sunny Optical attracts strong demand for IPO

The optical components manufacturer raises $132 million after attracting hefty demand from investors.
Sunny Optical Technology, which will be the first Chinese optical components manufacturer to list in Hong Kong, has priced its initial public offering at the top of the range for a total deal size of HK$1.03 billion $132 million.

When the public offer closed on June 7, the 10% retail tranche was 290 times covered, which equals about $3.8 billion HK$29.9 billion worth of demand, according to a source. This triggered a full clawback, which increased the size of the retail portion to 50%. With a high conversion ratio at the roadshow and no price sensitivity, the institutional tranche was oversubscribed by double-digits post-clawback. Some corporates and high-net-worth individuals also piled in...
¬ Haymarket Media Limited. All rights reserved.

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 (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, 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 (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222