US markets deliver low blow to Anta placement

Top up placement hit by sell-off in US equities, falling just below issue price during secondary market trading.
Founder Ding Shizong and boxer Manny Pacquiao
Founder Ding Shizong and boxer Manny Pacquiao

A 175 million primary share top up placement for Anta Sports Products fell foul of an abrupt change in market sentiment overnight in the US on Tuesday, prompting the Hong Kong-listed stock to fall just below the transaction's issue price when it resumed trading on Wednesday.

The group picked a very unfortunate evening to launch the deal, which went on to raise HK$3.792 billion $488 million after pricing at the bottom of its HK$21.67 to HK$22.13 indicative range. 

US equity markets suffered an unusually sharp drop during trading on Tuesday, with the SP 500 closing the day down 1.2% as investors took...

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