東方證券

Cornerstones help Orient IPO weather storm

A Chinese initial public offering that braved Brexit turmoil to pitch to investors in London last Friday has priced, raising $1.16bn for Orient Securities, listing in Hong Kong.

The day of UK meetings was arranged before the outcome of the EU referendum, and was part of a roadshow for the broker that took in Hong Kong and Singapore and ended in New York on Monday.

Some investors cancelled meetings and Europeans in general did not feature heavily in the final order book, according to deal advisers.

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