In the latest shares’ offerings updates, Zhongyuan Bank of China priced its Hong Kong IPO near the bottom of expectations, raising $1 billion. On the other hand, Toshiba’s Landis+Gyr aims to raise up to $2.49 billion through shares issue, while Razer is shooting for a Hong Kong IPO that could value the gaming gear maker at as much as $5 billion.
Zhongyuan Bank prices $1b IPO near bottom
Zhongyuan Bank Co Ltd, the largest city commercial bank in central China’s Henan province, priced its Hong Kong IPO near the bottom of expectations, raising $1 billion to bolster its capital base, IFR reported on Wednesday, citing people close to the deal.
The initial public offering (IPO) of about 3.3 billion shares was priced at HK$2.45 per share, near the bottom of an indicative range of HK$2.42 to HK$2.53, added IFR, a Thomson Reuters publication. That would put the total deal at HK$8.09 billion ($1.04 billion).
Zhongyuan Bank didn’t immediately reply to Reuters’ emailed request for comment on the IPO pricing.
(By Fiona Lau)
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