Buy-and-holds to help Nonferrous in secondary

28 Jun 2012

China Nonferrous Mining Corp priced a HK$1.914bn ($246.6m) IPO in Hong Kong on Tuesday. Bankers hope that it will hold up in the secondary market when it lists at the end of this week, since it is likely to be tightly held by the Chinese corporations and high net worth accounts that participated in the transaction, said bankers.

The stock will start trading on Friday, becoming just the second listing worth more than $70m to debut in Hong Kong since March. Bankers think that China Nonferrous will hold up in the secondary market — and are philosophical about the fact that this is largely because there ...

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