Tenfu, Xiao Nan breathe life into Hong Kong IPOs
Tea maker Tenfu Holdings and restaurant chain Xiao Nan Guo Restaurants Holdings had both covered the books for their IPOs by the end of trading on Thursday, moving closer to IPOs that could be worth HK$1.42bn ($182.2m) and HK$737m, respectively.
China International Capital Corp, Credit Suisse and Polaris Securities are leading the Tenfu IPO a 208.62m all-primary share offer and approached investors with a price range of HK$4.80-HK$6.80 on Monday. The deal represents a 17% stake in the enlarged share capital of the company.
Institutional investors will
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