Carote’s Hong Kong IPO Is Said to Have Drawn Hillhouse, Shunwei
- IPO’s Hong Kong tranche said to draw 1,300 times subscription
- Chinese stocks extended one of most remarkable turnarounds
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Chinese kitchenware maker Carote Ltd., which is set to be the first company to list in Hong Kong since Midea Group Co.’s $4.6 billion debut, has drawn interest from investors including Hillhouse Investment and Shunwei Capital, according to people familiar with the matter.
The potential initial public offering of Carote has attracted more than 1,300 times subscription on the IPO’s Hong Kong tranche, the people said, asking not to be identified because the matter is private. Hangzhou, China-based Carote closed order books a day earlier than planned last week given the strong demand, the people said.