Weichai ups lower end of IPO price range -source

Newswire

HONG KONG, Feb 19 (Reuters) - Diesel engine maker Weichai Power Co Ltd will raise at least HK$913 million (US$117 million) from its Hong Kong IPO after the indicative price range for the deal was tightened, a market source said on Thursday. The lower end of the price range has been raised to HK$8.30 from HK$6.65, while the upper end is unchanged at HK$10.80. The revised price range represents an historical price-to-earnings multiple of 10 to 13 times, based on Weichai's net profit of ...

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