Centron Telecom raises HKD 576 mln in IPO (China)
Chinese mobile equipment maker Centron Telecom has raised a net HKD 576 million in an initial public offering of shares on the Hong Kong stock exchange. The company sold shares at HKD 3.55 each, at the top end of the earlier indicated range. The Hong Kong share of the offering was 189 times oversubscribed. An over-allotment option is still available for another 37.5 million shares. With the proceeds of the IPO, Centron plans to expand facilities, buy equipment, invest in R&D, and expand local and overseas sales channels.
