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Private banking clients key participants in Hong Kong’s first Renminbi IPO

As Li Ka-shing promoted Hui Xian raises US$1.6 billion in the first ever Renminbi denominated equity offering outside Mainland China, industry sources say private banks have “participated significantly” in the offering. According to the term sheet, the IPO was split 80/20 with 80% of the offering held in reserve for institutional investors and hedge funds and 20% offered to retail…

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