The additional shares have been borrowed under a securities lending agreement and will be settled at a later date either by exercising the over-allotment option or through purchases on the secondary market, the company said.
CHINA: Harbin public offering is over-allocated
The Chinese brewing group, Harbin Brewery Group Ltd., appears to have had a very positive market response to its initial public offering on the Hong Kong stock exchange. The company stated in a legal notice that the book-runner for its IPO, Cazenove Asia Ltd., has over-allocated some 36.3m shares in the placement.
June 25, 2002