China Huarong raises $2.3b in Hong Kong IPO

China Huarong raises $2.3b in Hong Kong IPO

Visual from the company website

State-owned China Huarong Asset Management Co has raised HK$17.8 billion ($2.3 billion) through an initial public offering in Hong Kong after pricing the deal near the bottom of a marketing range, IFR reported late on Thursday.

China Huarong, China‘s largest distressed debt manager, priced the IPO at HK$3.09 a share after marketing it in the HK$3.03-HK$3.39 each range, said IFR, a Thomson Reuters publication, citing sources close to the deal.

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