Haidian braves HK volatility, closes top-up after price cut
China Haidian Holdings raised HK$472m ($60.7m) on Wednesday after a top-up share placement in Hong Kong. The company came to the market despite volatile secondary trading, and was forced to cut its target price before closing the deal.
The company's shares hit a 52 week high last week, and the ensuing fall left investors unwilling to buy the deal inside the HK$1.30-HK$1.40 per share range initially shown to the market on Tuesday night. Sole placing agent Macquarie cut pricing and closed the deal at HK$1.21, a
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