UMH carves out $96m from HK listing

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By John Loh
07 Mar 2016

Union Medical Healthcare has priced its HK$742.4m ($95.5m) Hong Kong IPO close to the floor of the expected range, as investor sensitivity meant the issuer chose prudence over price.

The Hong Kong-based cosmetic surgery specialist sold 245m primary shares at HK$3.03 each, or 15% above the bottom of its HK$2.88-HK$3.88 marketing range. That gave UMH a 2017 P/E ratio of 12.1 times. 

Sole sponsor and sole global co-ordinator Credit Suisse priced the trade over last weekend and ahead ...

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