Mainland China flower and vegetable producer Euro-Asia Agricultural (Holdings) Co Ltd said this week that the retail slice of its initial public offering (IPO) in Hong Kong had been about 79 times subscribed. Shares placed with professional and institutional investors had been 13 times subscribed, the company said in a statement.The firm is offering a total of 400 million new shares. Given the "overwhelming support for the public offer", the retail tranche for subscription by the public had been increased from 40 million shares to 160 million shares, representing 40 per cent of the total offer, the statement continued. The remaining 240 million were for placement to professional and institutional investors. Euro-Asia Agricultural said ICEA Captial Ltd, the sponsor of the placing and retail offer, was expected to exercise its over-allotment option to issue 60 million additional shares to professional and institutional investors. The final offer price is HK$1.48.
