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Qualifying shareholders take up 68% as remainder stays with conditional placees
Private equity company cashes in on remaining holding after earlier divestments
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Two Hong Kong IPO hopefuls have taken different approaches to their transactions. Tencent-backed Tongcheng-Elong Holdings launched its smaller listing of up to HK$1.8bn ($232.4m) on Tuesday, while Babytree has put its planned float on hold.
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CSSC Shipping Co, a subsidiary of China State Shipbuilding Corp, has filed a draft IPO prospectus in Hong Kong through sole sponsor CICC.
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Citi is looking to strengthen its solo operations in China at the same time as seeking a new partner for a majority-owned securities joint venture, GlobalCapital Asia understands.
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The rising trade war between China and the US will be a major factor determining the path of debt and equity markets next year, according to asset manager Aberdeen Standard Investments.
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The Restaurant Group, the London-listed owner of Frankie & Benny’s, is pressing ahead with the £315m rights issue it announced last month to finance its acquisition of Wagamama, the Japanese restaurant chain, despite concern from some investors over the rationale for the takeover.
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The $450m IPO of Kazatomprom, the Kazakh state-owned producer of natural uranium, is due to be priced at $11.60, the bottom of the initial range, valuing the business at $3bn.
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