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<IPO>MIDEA GROUP (00300.HK) Said to Exercise Over-allotment Option, Raise $31B+
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MIDEA GROUP (00300.HK) closed its IPO yesterday afternoon (12th). Earlier, rumor had it that the group plans to price the IPO at the upper limit of the price range of $54.8, and is expected to raise $26.97 billion. Due to the enthusiastic response of investors, Midea's IPO international placing charted several times of oversubscription, and the group will exercise the over-allotment option, with the number of shares offered globally hiking by 15% from more than 492 million shares to nearly 566 million shares, according to Bloomberg, citing people with the knowledge of the matter. The amount of capital raised will increase to more than $31.014 billion, likely rendering the stock to be the largest IPO in Hong Kong in recent years. AAStocks Financial News |
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