Kangda overcomes peer performance to price $177m IPO at the top

Kangda International Environmental Company has raised HK$1.4bn ($177m) from its Hong Kong IPO after pricing the transaction at the top of the guidance range. The company battled against some lukewarm market conditions on the final day of bookbuilding and pricing, but still triggered the highest clawback available after the retail tranche was more than 250 times covered.