By Quynh Nguyen
At the final price of $5.62 per share, the bank mopped up $922 million and was valued at $6.5 billion.
A listing of that magnitude — the biggest ever for Hong Kong — would suck up cash in the $5.6 trillion equity market, locking up the funds of subscribers to the offering.
In February 2016, Partners Group and Kedaara Capital acquired it for Rs900-1,000 crore. The IPO will include a mix of primary and secondary share sale, with both Kedaara and Partners expected to sell part of their stakes.
The company has chosen Mirae Asset Daewoo and NH Investment & Securities to advise its planned IPO.
IndoStar Capital was started in 2011 by private equity investors Everstone Capital, Beacon India Fund, ACPI Investment Managers and CIDB Capital.
FPT Retail listed 40 million shares on the Ho Chi Minh Stock Exchange (HOSE) at VND 125,000 ($5.53) apiece, valuing the company at VND 5 trillion ($220 million).
The Australian Securities & Investments Commission will expand the scope of its guidance in coming weeks to include more questions and details on ICOs.
Fidelity Investments-backed Innovent Biologics and Ascentage Pharma both plan to float in the second half of this year.
The view that cryptocurrencies such as bitcoin will be a future way to support commerce is becoming more mainstream, Nasdaq CEO Adena Friedman said.
Xiaomi could be the biggest IPO since Alibaba Group Holding Ltd.’s $25 billion debut in 2014.