Hopewell secures IPO at premium

Hopewell Highway Infrastructure (HHI) completed a 720 million share offering towards the bottom end of the deal's indicative price range yesterday (Thursday). Under the lead management of Citigroup, the deal was priced at HK$4.18 per share compared to an indicative range of HK$4.10 to HK$4.75 and raised proceeds of $385 million pre shoe.