Sinomax soothes investors with wide discount to comps

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By Rev Hui
03 Jul 2014

Hong Kong-based Sinomax Group is in the market to raise HK$1.07bn ($136m), having started bookbuilding on June 30. It is looking to hook investors in by offering its shares at a huge discount to comparables.

The mattress manufacturer first started sounding out investors over an IPO late in the first quarter of the year, but a deal never materialised because of the poor market backdrop, which saw the city’s Hang Seng index drop 6.4% to 21,182 in the first three weeks of March.

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