Dongshan reportedly raises about $1.3 billion in Hong Kong listing priced below offer maximum

Suzhou Dongshan Precision Manufacturing raised about HK$9.9 billion ($1.3 billion) in Hong Kong’s biggest listing in nearly two months, Bloomberg reported. Its shares were priced at HK$86.80, below the HK$93.80 maximum. Finimize reports that the deal was not upsized and interprets the pricing as a sign underwriters favored completing the deal over seeking a higher valuation.