December 21, 2012 / 1:36 AM / in 5 years

Chinese contractor CMEC soars 13 pct in HK debut after $500 mln IPO

HONG KONG, Dec 21 (Reuters) - China Machinery Engineering Corp (CMEC) jumped as much as 12.6 percent in its Hong Kong debut on Friday, after the Chinese state-owned contractor priced its $500 million initial public offering at the top of an indicative range.

Shares in the Beijing-based company rose to HK$6.08 in early trading, compared with a 0.4 percent decline in the benchmark Hang Seng index.

The company priced its IPO last week at HK$5.40, the top of a HK$4.10 to HK$5.40 per share indicative range.

ABC International, BOC International, CIMB Securities and ICBC International jointly managed the IPO.

Reporting by Elzio Barreto; Editing by Ryan Woo

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below