IPO price at low end
Source: Agencies |
December 18, 2010, Saturday
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Print Edition
Print Edition
China's Changsha Zoomlion Heavy Industry Science and Technology Co, which makes and leases heavy industrial equipment, priced its Hong Kong initial public offering at the low end of an indicated range, according to a term sheet seen yesterday.
The pricing also came amid heightened market volatility, prompted in part by worries surrounding the eurozone crisis and inflation on the Chinese mainland. Changsha Zoomlion is set to raise HK$13 billion (US$$1.7 billion) in its Hong Kong IPO, the term sheet said.
Zoomlion priced its 869.6 million shares at HK$14.98 each, at the low end of its price range of HK$13.98 to HK$18.98.
The pricing also came amid heightened market volatility, prompted in part by worries surrounding the eurozone crisis and inflation on the Chinese mainland. Changsha Zoomlion is set to raise HK$13 billion (US$$1.7 billion) in its Hong Kong IPO, the term sheet said.
Zoomlion priced its 869.6 million shares at HK$14.98 each, at the low end of its price range of HK$13.98 to HK$18.98.
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