PE-backed China Youran Dairy loses ground after $643m HK IPO
PAG Asia Capital-backed China Youran Dairy Group raised HK$4.99 billion ($643 million) through a Hong Kong IPO but then ended its trading debut below the IPO price.
The company sold 715.4 million shares for HK$6.98 apiece, representing the bottom end of the indicative range, according to a filing. Cornerstone investors contributed $50 million to the offering. The...
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