Port operator Pacific Ports Co has fixed its share price at the upper end of the range at $3.09 for today's issue of 40 million new shares.
The aggressive pricing decision followed a strong response to an earlier private placement of 160 million new shares, which was understood to have been 10 times oversubscribed.
The IPO aims to raise $618 million.
The price puts the shares at a 15.11 per cent discount to the company's net asset value of $3.64.
Company chairman John Chan Boon-ning said yesterday the firm - which is majority-owned by transport and port company Fairyoung Holdings and the Asian Infrastructure Fund - hoped its operations in Xiamen would help generate a net profit of $50 million this year.
This compares with estimated losses exceeding $17 million for last year, its third consecutive year in the red.