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Dongshan Precision's Hong Kong retail IPO was undersubscribed, making it one of the least popular large IPOs this year.
Suzhou Dongshan Precision Manufacturing Co., Ltd., a Chinese printed circuit board maker, saw its retail IPO in Hong Kong fail to attract enough investors, making it one of the least popular large initial public offerings in Hong Kong this year. According to sources, bookbuilding closed as scheduled on Friday, with preliminary data showing the public offering was undersubscribed, attracting fewer than 10,000 applicants. The company sought to raise up to HK$10.7 billion (approximately US$1.36 billion) at a maximum price of HK$93.80 per share. This followed a nearly 10% drop in the company's A-share price on Thursday, which led some institutional investors to withdraw large orders from the international offering.
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