The distressed debt house's float is weak compared to peers, but the successful completion on the back of cornerstone commitments is key to Beijing's market liberalisation plans.
China’s largest reinsurer drew a strong response from investors for its jumbo deal, which should raise investor expectations for upcoming Hong Kong IPOs.
With the global roadshow kicking off this week, the offering is already fully covered thanks to strong Chinese SOE cornerstone support and a range of anchor investors.
The Hong Kong exchange looks set to close the year with over half of its IPO volume coming from financial institutions, with several sizable listings due by year-end.
Sumitomo Mitsui, DBS and China Huarong collectively raise close to $6 billion overnight as investors continue to scramble for yield, defying summer lull expectations.