Jingkelong says HK IPO retail tranche 546 times

Jingkelong says HK IPO retail tranche 546 times. Check it out:
(Business Daily Update Via Thomson Dialog NewsEdge) Author: yu oversubscribed Beijing Jingkelong Co Ltd said the retail tranche of its Hong Kong initial public offering (IPO) was 546 times oversubscribed, while the international tranche was "substantially oversubscribed". The IPO price was set at 4.5 HK dollars, representing the upper end of the indicated price range of 3.9-4.5 HK dollars, the company said in a statement. Due to the oversubscription, the clawback mechanism has been applied and the number of shares allocated to retail investors will be raised to 50 percent of the total 132 million shares offered, from the original 10 percent. Trading of shares will start on September 25 on the Growth Enterprise Market (GEM) board.



Copyright 2006 Business Daily Update Source: Financial Times Information Limited - Asia Intelligence Wire.
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September 22, 2006 12:52 PM

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