Sino-Ocean prices IPO low to net HK$1.7bn

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By Jonathan Breen
11 Dec 2020

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

Sponsors CICC and Citi led a 12-strong syndicate on a week-long roadshow, pitching a float of 296m shares at HK$5.50 to HK$6.70. The range gave the deal a potential size of HK$1.63bn to HK$1.98bn.

The sponsors closed the orderbook on Thursday and priced the deal later that day ...

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