Wison Engineering launches Hong Kong’s latest IPO

The Chinese engineering company, which has signed up three cornerstone investors for a combined $50 million, seeks to raise up to $273 million from the offering.
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Wison is now a significant player in the offshore oil industry
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<div style="text-align: left;"> Wison is now a significant player in the offshore oil industry </div>

Wison Engineering Services, a Chinese engineering company, kicked off its roadshow yesterday for a Hong Kong initial public offering of between HK$1.67 billion and HK$2.12 billion $216 million to $273 million.

Like other recent offerings, Wison has signed up cornerstone investors that are taking up a combined $50 million, or up to 23.1% of the deal. The three cornerstones are Chow Tai Fook Nominee, the investment holding company controlled by Hong Kong tycoon Cheng Yu Tung, and Solar City Holdings, a real estate development and investment company, which have pledged $20 million each and EA Asia Absolute Return Master Fund, which is investing $10 million.

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