Phoenix Healthcare dazzles with 600x covered HK float

Even with books covered within hours of launch, final demand for Phoenix Healthcare Group’s HK$1.5bn ($191m) IPO exceeded expectations, with a retail portion that was more than 600 times subscribed.

  • By Rev Hui
  • 29 Nov 2013

“The deal went crazy,” one banker close to the deal said. “Investors have really taken a liking to Phoenix Healthcare because they will be getting exposure to China’s private hospital sector for the first time.”

The retail oversubscription triggered the maximum clawback, which kicked in at 100 times ...

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