(Corrects headline to say company raises $124 million in IPO,
not to launch IPO)
HONG KONG Aug 6 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)