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Article: Hong Kong : Glorious Raises $1.28 Billion from IPO in Hong Kong.
- Article from:
- TendersInfo
- Article date:
- September 30, 2009
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Glorious Property Holdings Ltd. raised US$1.28 billion from its Hong Kong initial public offering, after pricing near the low end of an indicative price range, two people familiar with the situation said Friday.
The Shanghai-based developer's IPO, the first by a Chinese real-estate company in more than 15 months, was priced at the low end amid signs that the frenzy surrounding new listings is beginning to ebb, and comes as investors digest a spate of Chinese listings in the market.
High-profile newcomer Metallurgical Corp. of China Ltd., which raised US$5.13 billion in the world's second-biggest IPO this year, closed nearly 12% lower on its trading debut ...