China’s Syswin Raises $67 Million in Initial Offering
Syswin Inc. (SYSW) raised $67 million as the Beijing-based real-estate agency priced its initial public offering at the bottom of the forecast range.
The company sold 9.6 million American depositary receipts at $7 each after offering them at $7 to $8 apiece, according to a filing with the Securities and Exchange Commission and data compiled by Bloomberg. Beijing-based Syswin had reduced the IPO from 12 million ADRs at $9.25 to $11.25 in a filing today.
The sale added to the biggest month for U.S. IPOs since March 2008, data compiled by Bloomberg show. Companies from General Motors Co. (GM) to LPL Investment Holdings Inc. (LPLA) have raised more than $18 billion combined in November as the Standard & Poor’s 500 Index (SPX) traded near a two-year high.
Separately, Anacor Pharmaceuticals Inc. (ANAC) raised $60 million as the Palo Alto, California-based developer of small-molecule therapeutics sold 12 million shares at $5 each, data compiled by Bloomberg show.
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