Orchid to cornerstone Time Watch's Hong Kong IPO
Orchid Asia will participate as a cornerstone investor in Chinese watchmaker Time Watch Investments' proposed Hong Kong IPO. The private equity investor will inject about HK$204 million ($26.3 million) for an 8.03% stake in the company.
Time Watch was listed in Singapore before being privatized in 2011. The mid-price watchmaker is currently looking to raise as much as HK$810 million by offering 600 million of shares, representing 30%...
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