ADVERTISEMENT
China Bohai Bank raises $1.78 bln in Hong Kong IPO: Sources
Reuters
Last Updated IST
Representative image. Credit: AFP Photo
Representative image. Credit: AFP Photo

China Bohai Bank has raised $1.78 billion after pricing its shares at HK$4.80 as it carried out the largest initial public offering in Hong Kong so far in 2020, two sources with direct knowledge of the matter said.

The bank had flagged it would sell 2.88 billion shares at HK$4.75 to HK$4.98 each, according to its prospectus.

The sources declined to be identified as the pricing had not been made public.

ADVERTISEMENT

Bohai Bank declined to comment.

Cornerstone investors who bought into the IPO ahead of the institutional bookbuild accounted for about 30% of the total deal. The largest of those investors was Yichang Health Pharmaceutical which bought $200 million worth of stock, followed by four funds which took a $50 million share each.

Bohai Bank's fundraising eclipsed that of Smoore International, an e-cigarette and vaping device manufacturer, which last week raised $918 million.

Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks

ADVERTISEMENT
Read more
(Published 10 July 2020, 16:23 IST)