Minsheng Banking Corp has fixed the price of its initial public offering just above the mid-point of the range for a total deal size of HK$30.15 billion $3.89 billion. This makes it the largest IPO in both Hong Kong and Asia so far this year, ahead of Metallurgical Corp of China's $2.35 billion H-share offering in September and Malaysian mobile operator Maxis's $3.3 billion IPO earlier this month.
According to sources, Minsheng attracted $33 billion to $34 billion of demand from institutions, excluding cornerstones, and another $32 billion from retail investors. The interest was likely boosted by the fact that Minsheng's Shanghai-listed A-shares gained during the marketing period, as did most of the...
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