China Machinery Engineering prices Hong Kong IPO at top end

Robust demand leaves both the retail and institutional tranches heavily oversubscribed and allows the state-owned engineering contractor to raise $500 million from the offering.

<div style="text-align: left;"> A CMEC transmission line project in Congo </div>

December 17, 2012

China Machinery Engineering Corporation, a state-owned international engineering contractor, has raised HK$3.88 billion ($500 million) from its initial public offering, after fixing the price at the top of the indicative range. The stock is scheduled to start trading in Hong Kong this Friday.

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