Ronshine China seals Asia’s first IPO in 2016

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By John Loh, Jonathan Breen
07 Jan 2016

Ronshine China Holdings has sealed Asia’s first IPO this year, pricing its HK$1.81bn ($233.5m) Hong Kong float at the bottom of guidance after a low turnout during bookbuilding.

The property developer sold 337.5m shares at HK$5.36 each, after marketing them at HK$5.36-HK$6.13. ICBC International Capital was sole sponsor and sole global co-ordinator.

“Markets were pretty tough,” said a source close to the situation. “We were expecting more investors in the book. That number didn’t come in, ...

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