Hainan Meilan: up, up and away

Hainan Meilan Airport raised HK$762 million ($97.9 million) from its Hong Kong IPO yesterday (Wednesday) on the back of strong strategic and institutional bid for its stock. The deal was priced at HK$3.78 a share, right at the top end of its indicative price range of HK$3.15-HK$3.79 a share. The sale represents 45% of the company's share capital.