China IPO Datapoint of the Day

Helen Thomas keeps an eye on the China Railway IPO:

The Hong Kong retail portion of the $5.5bn dual listing was 250 times oversubscribed – representing orders worth about $58bn.

And this in a market which is far from surging: in fact, it’s down more than 25% from its highs. What’s more, IPO stocks seem to be doing particularly badly, with all 8 January IPOs ending the month below their offering prices.

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