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Bookstore raises HK$2 billion in IPO

(China Daily)
Updated: 2007-05-24 08:56

Sichuan Xinhua Winshare Chainstore Co, the largest bookstore chain in China's Sichuan Province, raised HK$2.14 billion in a Hong Kong initial public offering, Bloomberg reported, citing anonymous sources.

The company sold 369.4 million new shares, a 33.5 percent stake, at HK$5.80 apiece said the report. The share sale earmarked for individual investors will be expanded to 50 percent from 10 percent, reducing the number of shares available for institutions, according to the report.