Commitments filtered out for $147m Ozner Water IPO

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By Rev Hui
12 Jun 2014

Water purification firm Ozner Water International Holding raised HK$1.24bn ($147m) on June 11, pricing its Hong Kong IPO at the top of guidance thanks to overwhelming demand from institutional and retail investors. But the downside to the strong showing is that lots of bids will be crossed out.

Ozner, which specialises in manufacturing water purifiers for domestic and commercial usage, was originally looking to offer institutional investors 90% of its 422m primary shares.

That meant retail accounts would only have got the remaining 10%. But in Ozner’s case, the retail tranche was more than 45 times ...

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