BAIC prices $1.42bn IPO in the middle

Daimler 230px
By John Loh
15 Dec 2014

BAIC Motor has raised HK$11.04bn ($1.42bn) after pricing its IPO — one of the last billion-dollar listings for Hong Kong in 2014 — just above the midpoint of guidance.

The Daimler-backed car maker priced its shares at HK$8.90, compared to an earlier marketing range of HK$7.60-HK$9.80, which would have grossed HK$12.15bn at the top end.

It sold 1.24bn shares, of which 90.9% were primary and 9.1% secondary. The deal came with a greenshoe option of 185.82m shares, ...

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