VCredit prices IPO low to net HK$1.4bn

China-based VCredit Holdings raised HK$1.37bn ($175m) this week after pricing its IPO at the bottom of guidance.

  • By Jonathan Breen
  • 14 Jun 2018

The issuer came out on June 5 offering 68.6m primary shares at a range of HK$20-HK$23 apiece, giving it proceeds anywhere from HK$1.37bn to HK$1.58bn. The float, equal to 13.8% of its enlarged capital, also included a greenshoe of 10.1m primary shares.

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 19.83
2 Industrial and Commercial Bank of China (ICBC) 14.01
3 CITIC Securities 11.86
4 Agricultural Bank of China (ABC) 10.78
5 China CITIC Bank Corp 9.70

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 14,889.27 66 7.86%
2 Morgan Stanley 12,834.37 54 6.77%
3 Citi 12,128.00 77 6.40%
4 UBS 9,354.44 62 4.94%
5 China International Capital Corp Ltd 9,279.56 33 4.90%

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Sep 2018
1 HSBC 19,033.85 159 7.36%
2 Citi 19,000.89 119 7.35%
3 JPMorgan 12,589.46 73 4.87%
4 Bank of America Merrill Lynch 11,854.05 73 4.59%
5 Goldman Sachs 10,460.58 48 4.05%

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