Kasen International Holdings, China's top leather products and furniture manufacturer, raised US$99.9 million at its Hong Kong IPO after pricing its shares at US$0.33, the low end of the indicated range. Investor sentiment was cool given the market's downward trend and the poor performance of recent mainland IPOs, including those of China Paradise Electronics Retail and Yurun, the Standard of Hong Kong reported. The institutional tranche was one time covered.
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