tianjin-port-ipo-is-1700-times-subscribed

Tianjin Port IPO is 1,700 times subscribed

Deal breaks Hong Kong retail oversubscription record thanks to a cheap valuation and good growth prospects.
If you thought that the recent volatility in global stock markets would make investors more cautious about committing money to new untested names seeking a listing - perhaps with the exception of Bank of ChinaÆs giant offering û think again.

When Tianjin Port Development closed its initial public offering yesterday retail investors had ordered close to 1,700 times the amount of shares earmarked for them and broken the previous Hong Kong market record for oversubscription ratios in a retail public offering.

Sure, the offer wasnÆt that large to begin with and it did not mark a record in terms of actual money committed, but the fact that a HK$1.09 billion $140 million deal was...
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