Mulsanne tests IPO pricing flexibility amid US-China turmoil

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By Jonathan Breen
23 May 2019

Mulsanne Group Holding broke new ground this week by pricing its IPO below the initial marketed range, debuting a mechanism introduced to the Hong Kong stock market just last year. The move could become more common in the city if US-China trade tensions continue to ramp up market volatility, according to equity capital markets bankers. Jonathan Breen reports.

The Chinese clothing company priced its IPO 6.2% below the bottom of the original range by using an initiative that was piloted by the Hong Kong Securities and Futures Commission in February 2018. The so-called ‘pricing flexibility mechanism’ enables an issuer to price a listing as much as ...

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