China Citic IPO set for $5bn blowout as leads fine-tune pricing
China Citic Bank launched its Hong Kong and Shanghai dual IPO on Monday at a much higher price range than many had expected, amid an extremely bullish mood for flotations in Hong Kong.
Many had anticipated a deal of up to $4bn, but the initial broad price range announced on Monday was for a deal of up to $5.7bn.
On Wednesday, the price range was refined, bringing the maximum deal size back to $5.4bn, but that in no way suggested the Hong
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