Midea Raises $4 Billion in Upsized Hong Kong Listing [Yahoo! Finance Canada]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
coscointl.com/en_ir_ho.asp
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Source: Yahoo! Finance Canada
the marketed range, in a show of demand for the city's biggest share sale in over three years. Most Read from Bloomberg The Foshan, China-based company sold shares at HK$54.80 apiece, according to terms of the deal obtained by Bloomberg. The listing is scheduled to take place in Hong Kong on Tuesday. Midea sold 566 million shares after exercising an option to boost the size of the offering due to strong demand, the terms showed, confirming an earlier Bloomberg News report. The deal size could be increased to $4.6 billion later on if an overallotment option is exercised. Cornerstone investors, who commit to keeping shares for at least six months, have agreed to buy $1.26 billion in Midea stock, amounting to more than a third of the offering. They include a subsidiary of container-shipping company Cosco Shipping Holdings Co. and a unit of UBS Asset Management AG. Midea had planned to offer 492.1 million shares at HK$52 to HK$54.80 a piece, according to its listing document dated
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