<IPO News>HUADIAN FUXIN (00816) closes midday at $1.69, 2.4% higher than IPO price

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HUADIAN FUXIN (00816) closes midday at $1.69, 2.4% higher than IPO price

2012-06-28 12:24:30

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HUADIAN FUXIN (00816) hit intra-day high at $1.75 on debut. It closed midday at $1.69, which was $0.04, or 2.4%, higher than IPO price of $1.65. Trading volume amounted to $6.998 million shares, or $11.916 million in terms of turnover.

HUADIAN FUXIN set offer price at lower price range of $1.65, raising funds of $2.308 billion. The shares offered under Hong Kong public offering were under-subscribed and each subscriber was allotted with at least one board lot. A total of 9.574 million shares were reallocated to international placing, making shares offered under Hong Kong offering account for 9.36% of global offering. CITIC Securities, UBS and Bank of America Merrill Lynch were the joint sponsors. (y)

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