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M&G Chemicals shares debut on Hong Kong stock exchange

5:32 AM MST | December 2, 2013 | Francinia Protti-Alvarez

M&G Chemicals (Tortona, Italy) has debuted on the Hong Kong stock exchange, offering 2.35 billion shares at HK$1.65–1.95/share. The initial public offering comprises an international offering of an aggregate of 2.12 billion shares and a Hong Kong offer of 235.3 million shares, representing approximately 90% and 10% of the total number of offer shares, respectively, M&G says. The company’s net proceeds from the global offering are expected to be approximately HK$3.9 billion, assuming an offer price of HK$1.80/share, the midpoint of the offer...

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