Wing Fat Printing to raise HK$690 mln through HK IPO

Wing Fat Printing Co<633>, a Chinese printer of packaging materials, will float shares in the Hong Kong Stock Exchange on Mar. 28 in spite of the recent depressing IPO market.

It plans to raise as much as HK$690 million through selling 150 million shares to fund the expansion of its printing services and production facilities update. The offering price ranges from HK$4.05 to HK$4.6 per share.

90% of the shares will be allotted to institutional investors, while the balance will be available for all investors, according to its statement published on Thursday.

BNP Paribas SA and UBS AG are dealing with the share sale.