Ganfeng Lithium offers huge discount on HK float

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By John Loh
26 Sep 2018

Ganfeng Lithium is enticing investors to its HK$5.3bn ($678.9m) Hong Kong IPO by pitching it at a juicy discount of as much as 55% to its Shenzhen-traded shares.

The company has set a price range of HK$16.5 to HK$26.5 per H-share for the flotation, with the base deal comprising 200.2m primary shares. There is a greenshoe of 12.9m primary shares, or 6.4% of the base offering.

The banks leading the IPO told investors during the launch ...

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