The institutional tranche attracted over 200 orders, leaving it 56 times covered post-clawback. The clawback, which increased the retail tranche from 10% to 50%, was triggered by strong demand from local Hong Kong investors. When the public offer closed last Friday, retail investors had subscribed to 115 times the shares originally available to them.
A source close to the deal says the book was fully covered on the first day of the roadshow, with approximately 30% of the demand coming from corporate...
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