Crystal Group launches bookbuilding for HK$4.5bn IPO

Clothing manufacturer Crystal International Group has opened books for its Hong Kong IPO, with a view to raising as much as HK$4.5bn ($573.8m) from selling new stock.

  • By Jonathan Breen
  • 17 Oct 2017

The company is offering 509.3m primary shares at HK$7.3-HK$8.8 apiece, giving the deal a possible size of HK$3.7bn-HK$4.5bn. There is also a 15% greenshoe, which could lift the float to 20% of Crystal’s enlarged share capital.

Joint sponsors and global co-ordinators HSBC and Morgan Stanley began taking orders ...

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