Reuters logo
CORRECTED-KKR-backed Rundong Auto prices HK IPO low, raises $124 mln
August 6, 2014 / 6:40 AM / 3 years ago

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)

Our Standards:The Thomson Reuters Trust Principles.
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