TravelSky IPO just the ticket for investors

The successful completion of a $143 million H share IPO for TravelSky Technology has given Asia''s new issuance market a boost.

The 270.32 million share deal was priced last night Thursday near the top of its indicative range after institutional and retail books both closed roughly seven times oversubscribed. With Goldman Sachs as lead manager, the company raised a total of $142.45 million on an issue price of HK$4.10 $0.53. A further 40.534 million shares are available via the greenshoe.

Despite the fact that all syndicate members reported strong interest in the deal, it was decided to leave a little upside on the table for investors and price just below HK$4.25 at the top end of the pre-marketed range. As one observer comments This is...

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