Investors overwhelm WH Group’s $2bn IPO, trigger clawback

Pork firm WH Group finally secured a place on the Hong Kong Stock Exchange with the closing of the retail tranche of its HK$15.9bn ($2.05bn) IPO on July 29. But even though leads Bank of China International and Morgan Stanley thought they had everything under control, institutional demand for the IPO was so great in the rapid bookbuild that investors tried to secure allocations through the retail offering, triggering a 10% clawback.