Chinese port operator, Xiamen Ports, is hoping recent momentum in the Hong Kong IPO market will counter the continuing poor performance of global shipping stocks. The BNP Paribas Peregrine led deal is aiming to raise HK$1 billion $130 million to HK$1.28 billion $156 million from its IPO based on a price range of HK$1.18 to HK$.142 and issue of 858 million shares.
Pricing is scheduled for December 9.
It now seems likely the company will list as a conventional H-share, despite speculation it would list with all of its government-owned shares freely convertible into H-shares. However, specialists say that technical issues with the stock exchange...
