China's Sinotruk raises $1.2 bln in HK IPO -source

Newswire

HONG KONG, Nov 21 (Reuters) - Sinotruk (Hong Kong) Ltd, China's top heavy truck maker, raised US$1.2 billion after it priced its Hong Kong initial public offering at the top of an indicated range, a source close to the deal said on Wednesday. Sinotruk priced its IPO at HK$12.88 apiece, compared with a range of HK$10 to HK$12.88, the source said, adding that the retail portion of the offering had been more than 300 times subscribed. Sinotruk had a 20.8 percent market share in the first ...

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