Sinotruk raised $1.2 billion after it priced its Hong Kong IPO.

November 26,2007

Sinotruk (Hong Kong) Ltd, China's top heavy truck maker, raised $1.2 billion after it priced its Hong Kong initial public offering at the top of an indicative range, Reuters reported, citing a source close to the deal.

Sinotruk priced its IPO at HK$12.88 apiece, compared with a range of HK$10 to HK$12.88, the source said, adding that the retail portion of the offering had been more than 300 times subscribed.

Sinotruk had a 20.8 percent market share in the first nine months of 2007, including sales volume from its parent company during the period.

JP Morgan and China International Capital Corp Ltd are sponsors of the offering.

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