taiwan-networking-products-maker-to-list-in-hong-kong

Taiwan networking products maker to list in Hong Kong

Delta Networks prices at the top, but demand is less convincing than for the average Hong Kong listing and no clawback is triggered.
Delta Networks, a Taiwan-based original design manufacturer of networking products, has raised $180 million from a Hong Kong initial public offering which showed some signs that investors are beginning to get choosy about where to put their money after two very busy months in terms of new listings.

Delta, which is a spin-off from well-known electronic components maker Delta Electronic, saw modest, but entirely sufficient, demand from both institutional and retail investors and was able to price the Goldman Sachs-led offering at the top of the HK$3.25 to HK$4.50 range.

The company sold 313.6 million shares, three quarters of which were new, that will give it a freefloat of 25% when it starts...
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