Zhongsheng raises $369m in Hong Kong IPO
Tuesday, 23 March 2010
HONG KONG, Mar 22 (Reuters): Zhongsheng Group Holdings Ltd, a Chinese dealership providing services to carmakers, raised US$369 million when it priced its Hong Kong initial public offering near the bottom of an indicated range, a source familiar with the deal said Monday.
Zhongsheng, which counts Japan's Toyota Motor Corp among its key customers, sold 286.16 million new shares, or 15.5 per cent of its enlarged share capital, at HK$10 each, compared with its indicative price range of HK$9.54-HK$12.83, the source said.
Zhongsheng's trading debut is set for March 26, under the symbol "881".
BOC International, Morgan Stanley and UBS are handling the deal.
Zhongsheng, which counts Japan's Toyota Motor Corp among its key customers, sold 286.16 million new shares, or 15.5 per cent of its enlarged share capital, at HK$10 each, compared with its indicative price range of HK$9.54-HK$12.83, the source said.
Zhongsheng's trading debut is set for March 26, under the symbol "881".
BOC International, Morgan Stanley and UBS are handling the deal.