Universal Medical prices $447m HK IPO

The Chinese healthcare leasing business and healthcare service provider prices shares towards the middle of the range amid intensifying Greek drama.

Universal Medical Financial Technical Advisory Services, a Chinese healthcare leasing business and service provider, defied volatile stock markets on Tuesday to price its Hong Kong initial public offering towards the middle of its range.

Allocations were still being finalised after the market close as investors braced for possible news that Greece had defaulted on a 1.6 billion $1.79 billion loan to the International Monetary Fund, adding to the jumpiness that has already befallen Chinese shares in recent sessions. 

Although both indexes traded higher on Tuesday, the Shanghai Stock Exchange Composite Index has shed 6.5% while the Hang Seng is down 3% since UMS launched its...

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