Chinese Company Raises $1.26 Billion in Year's Biggest-Yet IPO

China Zhongwang Holdings has priced its initial public offering at HK$7 per share, towards the low end of the indicated range of HK$6.80 to HK$8.80, offering further evidence that this is still a buyer's market. Even at the low end though, the company was able to raise HK$9.8 billion ($1.26 billion), which makes this the largest IPO globally this year, ahead of Mead Johnson Nutrition's $828 million US offering in February.

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