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China’s Lygend Raises $470 Million in Hong Kong IPO, Sources Say

  • Firm offered 232.5 million shares at HK$15.60 to HK$19.96 each
  • Ningbo-based company is a nickel producer and trader

Lygend Resources & Technology Co., a Chinese nickel producer and trader, raised about HK$3.67 billion ($470 million) in its Hong Kong initial public offering, according to people familiar with the matter.

The Ningbo-based company priced the offering at HK$15.80 per share, near the bottom of its marketed range, said the people, who asked not to be identified as the information is private. The company had previously marketed 232.5 million shares at HK$15.60 and HK$19.96 apiece.