Shenzhen Woer Heat-Shrinkable IPO likely to price at top

Shares of Shenzhen Woer Heat-Shrinkable Material are reportedly set to be priced at the top end of their Hong Kong initial public offering range, following the closure of its retail books on Tuesday.

The company plans to offer 140 million H shares at a maximum price of HK$20.09 apiece, raising up to HK$2.81 billion.

The deal drew about HK$126.5 billion in margin financing orders from brokers, oversubscribing the retail tranche by more than 450 times, according to market data.

The minimum board lot is 200 shares, requiring an initial investment of HK$4,058.50, and the stock is expected to begin trading on Feburary 13.