KKR-backed Rundong Auto IPO prices at bottom of range
Rundong Auto Group, a Chinese car dealership chain backed by KKR, has raised $124 million in its Hong Kong IPO, after pricing the offering at the bottom end of the indicative range.
According to a term sheet seen by The Wall Street Journal, the company sold 268.6 million shares at HK$3.58 ($0.46) each, representing six times the company's forecast earnings for this year. The indicative...
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