Freetech prices HK$631m IPO close to bottom

Freetech Road Recycling Technology Holdings has priced its HK$631m ($82m) IPO at HK$2.43, the very bottom of a price range that went up to HK$3.32.

  • By Rev Hui
  • 25 Jun 2013

The base deal comprised 260m shares, but there is an over-allotment option of a further 13m. Bookbuilding closed on June 19.

Bankers said they had little option other than to price where they did. “We had to price the deal at the lower end of the range because recent ...

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