Updated: Greentown nets $200m from HK listing

china property px230
By John Loh
05 Jul 2016

Greentown Service Group has priced its Hong Kong IPO slightly above the mid point of the original range, raising HK$1.55bn ($200m) in the aftermath of Brexit, according to sources.

The company sold 777.8m primary shares at HK$1.99 apiece, after narrowing price guidance from HK$1.74-HK$2.20 at the start of bookbuilding to HK$1.90-HK$2.05 at 1pm on Monday. 

The final price translates to a 2016 price-to-earnings multiple of 15.9x, based on the syndicate consensus. Greentown is expected to debut with a ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial