CMEC kicks off Hong Kong IPO after cornerstone help

13 Dec 2012

China Machinery Engineering Corp launched a Hong Kong listing that will be worth as much as HK$3.877bn ($500m) on Tuesday, after covering over a third of the deal with cornerstone commitments.

The listing will be one of the last in Hong Kong before the end of what has been a poor year for IPOs in the special administrative region. But some ECM bankers are optimistic about next year.

"This year we have hit the very bottom of the Hong Kong ...

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