Clawback triggered for Cosmo Lady’s $189m HK float

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By Rev Hui
26 Jun 2014

Cosmo Lady (China) Holdings’ HK$1.46bn ($189m) Hong Kong IPO was well received by investors, with the institutional tranche ending up multiple times oversubscribed. But it was the strong showing by retail that really caught the eye, with 15 times coverage triggering the first clawback level.

Lingerie firm Cosmo Lady was originally looking to allocate 90% of the 406m primary shares to institutional investors. But the strength of retail participation activated the first level of clawback — which kicks in when the retail portion is 15-50 times covered. As a result, 30% of ...

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