CPMC Holdings, a Chinese manufacturer of packaging for consumer goods, last night raised HK$914.7 million $118 million from a top-up placement.
The deal was heavily anchored at launch but also saw good additional demand from investors who were keen to get hold of the highly illiquid stock, which has a turnover of less than $800,000 a day. The offering was covered in 90 minutes and when the order books closed at 10pm, it was at least a couple of times covered.
Hong Kong-listed CPMC sold 166 million shares, which accounted for 20% of the outstanding share capital and is the most it could sell without having...
¬ Haymarket Media Limited. All rights reserved.
