Tongcheng-Elong, Babytree hit the finish line

Hong Kong island adobe stock 230x150
By Christie Ou, Jonathan Breen
22 Nov 2018

Babytree Group and Tongcheng-Elong Holdings both got their Hong Kong IPOs past the finish line this week, as equity markets globally continue to get battered by volatility.

Babytree bagged HK$1.7bn ($217m) from its transaction after pricing it at the bottom of guidance. The deal, which consisted of 250.3m primary shares, was priced on Monday night at the low end of the indicative range of HK$6.80-HK$8.80 a share. There is a 15% greenshoe of 37.5m shares, ...

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