Metals and mining might not be the most popular industry at the moment, but China Hanking Holdings has secured enough interest to allow it to pull off a Hong Kong initial public offering this week. The Liaoning-based iron ore miner is aiming to raise between HK$1.15 billion and HK$1.34 billion $148 million to $172 million.
It kicked off both the institutional and retail tranches of the IPO yesterday and will keep the books open only until Friday. Such a tight marketing schedule suggests that the deal would have been largely covered before launch and sources confirmed that this was the case.
“It was launched...
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