man wah

Man Wah trims its initial public offering to $212 million, while paper recycling company Fook Woo prices at the top to raise $185 million.

The deal is sold mostly to Hong Kong and mainland Chinese investors as IPO buyers become cautious about new issues. A cornerstone investor helps to attract sufficient demand to the offering.

Man Wah, which was listed in Singapore until last year and generates almost half of its earnings from the US, is looking to China for its next growth driver.