Bosideng IPO raises over US$800m

Bosideng International Holdings, China's largest manufacturer of down jackets, raised US$836 million in its initial public offering, the Wall Street Journal reported, citing a person familiar with the situation. The company priced the 1.99 billion shares that are going on sale at HK$3.28 (US$0.42), the top end of its indicative range. Orders from institutional investors, who have been allocated US$376.6 million in shares, were more than 120 times oversubscribed. As many as 500 institutional investors have applied for a stake in the Jiangsu province-based company. The portion of shares open to retail investors, originally 10% of the total offering, was 69 times oversubscribed. This triggered a clawback and the retail tranche was raised to 40%. Bosideng's shares will make their Hong Kong stock market debut on Thursday.