Yadea launches $240m HK float with cornerstones

hong kong central px230
By Carrie Hong, John Loh
05 May 2016

Yadea Group Holdings has opened books for its HK$1.86bn ($239.69m) IPO in Hong Kong, with the electric vehicle maker signing on $30m worth of commitments from two cornerstones.

The firm went out with a wide price guidance of HK$1.72-HK$2.48 per share on Thursday. Joint global co-ordinators Alliance Capital, China Securities International, Huatai Financial and JP Morgan are marketing 750m shares, or 25% of Yadea’s enlarged share base, to raise HK$1.29bn-HK$1.86bn in the base offer. There is also a 15% ...

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