Huadian Fuxin prices IPO above low end to raise $319 million

Huadian Fuxin Energy Corp has raised HK$2.48 billion $319 million from its initial public offering after pricing the deal slightly above the bottom of the price range at HK$1.65 per share. The company, which is the renewable energy arm of the China Huadian Group, is due to start trading in Hong Kong on June 28.

In response to the poor sentiment for IPOs at the moment, the deal was pretty much covered before launch by cornerstones and anchor investors, so the fact that it got done would have come as a surprise to no one. But, according to sources, there was some incremental demand including a few...