Gateway sets terms for $200 million Hong Kong offering

Gateway Energy and Resource Holdings has set the terms for its initial offering at a level that will allow it to raise at least HK$1.52 billion to HK$1.56 billion $196 million to $201 million, according to sources. It will be the first managed fund to list in Hong Kong and, unlike most IPOs in the city, it won’t have a retail portion.

Gateway, which has already been on the road for a week, is a feeder fund that is operated by the same people who run US-based EIG Global Energy Partners, one of the leading institutional investors in energy and resources globally. The fund is...