CORRECTED-KKR-backed Rundong Auto prices HK IPO low, raises $124 mln
(Corrects headline to say company raises $124 million in IPO, not to launch IPO)
HONG KONG Aug 6 (Reuters) - Luxury automobile dealer China Rundong Auto Group Ltd, backed by private equity firm KKR & Co LP, and one of its shareholders raised $124 million in a Hong Kong initial public offering, according to a term sheet seen by Reuters on Wednesday.
The 268.62 million shares in the IPO were priced at HK$3.58 each, at the bottom of expectations, putting the deal at HK$961.7 million ($124 million). The deal was marketed in a range of HK$3.58 to HK$3.98 per share.
Rundong offered 244.97 million new shares, while shareholder Runda PTC Ltd offered 23.65 million existing shares, according to the IPO prospectus. ($1 = 7.7504 Hong Kong Dollars) (Reporting by Elzio Barreto; Editing by Michael Urquhart)