Zoomlion raises HK$1.68 billion from Hong Kong share sale

The Shenzhen-listed manufacturer of construction machinery prices its Hong Kong share offer at a 14.5% discount to its A-shares.

Changsha Zoomlion Heavy Industry Science and Technology Development, a leading Chinese manufacturer of construction machinery, has raised HK$13.03 billion $1.68 billion from its Hong Kong share sale, and will be the last major company to list in Hong Kong this year. The debut is scheduled for Thursday, which is the last full day of trading before the Christmas holidays as Friday is only a half-day in the Hong Kong market.

The company, which is already listed in Shenzhen, attracted decent demand despite deteriorating interest among investors for new share sales this close to year end. The Hang Seng Index has fallen 9% from its 2010 high of 24,964 points on November 8 and some...

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