You wait for a bus, then three come at once

The completion of equity offerings this week for Media Nation and Media Partners International (MPI) has attracted widespread criticism after the two deals were restructured and priced at the bottom end of their respective indicative ranges. Not helped by the trading pattern of Clear Media, which listed on the main board of the Hong Kong Stock Exchange at the end of last year, both companies found themselves battling each other as well as a falling stock market to secure a pricing advantage with investors.