Media365
Chuangxin planned to offer 500 million shares at HK$10.18 to HK$10.99 each, with 90 per cent allocated to institutional investors and the remainder to retail investors, according to its Hong Kong stock exchange filing on Friday. The stock is expected to start trading on November 24.
Switzerland-based commodity giant Glencore, Chinese investment manager Hillhouse Group, aluminium maker China Hongqiao Group, Singapore commodity trading firm Mercuria Energy Group, US asset manager Millennium Management and US quant trading firm Jane Street were among the cornerstone investors that agreed to commit around US$351 million worth of stock based on the top range of the offer price.
Total funds from new share sales soared 220 per cent in the first nine months of the year, with 66 companies raising US$23.27 billion on the Hong Kong stock exchange’s main board, according to data from the London Stock Exchange Group. That put the bourse at the top of the global IPO rankings for the first time since 2019.
