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Article: China: CPMC and China High Precision ipos raise a combined $267 million.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
CPMC encounters high levels of demand as two more small-cap companies succeed in raising capital. Two Chinese small-cap companies priced their Hong Kong initial public offerings on Friday, raising a combined HK$2.07 billion ($267 million). Metal-packaging company CPMC Holdings raised HK$1.07 billion and China High Precision Automation Group (CHP) tapped the market for HK$1 billion.
CPMC sold 200 million primary shares at HK$5.39 apiece, the top of an indicative range that started at HK$3.85. Retail investors flocked to the deal, with the Hong Kong public offer approximately 200 times covered. This triggered the largest possible clawback ...