BBMG offer 773 times oversubscribed
Toh Han Shih
The initial public offering of BBMG Corp on the Hong Kong main board has been oversubscribed by 773 times. As a result of the oversubscription, the clawback mechanism was triggered, increasing the number of shares available under the retail tranche to 466.67 million. The final offer price of Beijing's largest cement supplier has been set at HK$6.38 per share, the top end of the indicative price range. The net proceeds from the global share offering amount to HK$5.575 billion. Trading of the shares will start tomorrow.