Bairong covers $507m Hong Kong listing

By Jonathan Breen
19 Mar 2021

Bairong, a financial technology firm, has covered its HK$3.94bn ($507m) IPO, following strong demand from institutional investors on the first day of bookbuilding.

The listing sponsors and global co-ordinators CICC, CMBC Capital and Morgan Stanley began taking orders for the deal on Wednesday.

“The book is multiple times covered with good engagement from long only investors,” said a source close to the IPO on Thursday morning in Hong Kong. “This long ...

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