KKR-backed Rundong Auto prices HK IPO low, raises $124 mln-Reuters

(Reuters) – Luxury automobile dealer China Rundong Auto Group Ltd, backed by private equity firm KKR & Co LP, and one of its shareholders raised $124 million in a Hong Kong initial public offering, according to a term sheet seen by Reuters on Wednesday.

The 268.62 million shares in the IPO were priced at HK$3.58 each, at the bottom of expectations, putting the deal at HK$961.7 million ($124 million). The deal was marketed in a range of HK$3.58 to HK$3.98 per share.

Rundong offered 244.97 million new shares, while shareholder Runda PTC Ltd offered 23.65 million existing shares, according to the IPO prospectus.

Leave a Reply

PEHUB Community

Join the 12506 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget