Jiangxi Bank seals $953m HK IPO above mid-point

By Jonathan Breen
21 Jun 2018

Jiangxi Bank Co has raised HK$7.48bn ($953m) from its Hong Kong IPO, pricing the shares towards the top of guidance thanks to a big group of flexible investors.

The Chinese provincial lender went on the road to sell 1.17bn H-shares at HK$5.94-HK$6.66 each. The range represented a valuation of around one to more than 1.1 times historical price-to-book — relatively high compared to its peers on the Hong Kong Stock Exchange, which consistently trade below the ...

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