Grand Twins may price Cambodia IPO below mid-point of indicative range
Tepid interest in a Taiwanese-owned garment manufacturer’s planned initial public offering in Cambodia means that the deal could be priced below the midpoint of an indicative range, a person with direct knowledge of the offering said Thursday. Grand Twins International (Cambodia) PLC had planned to sell 8 million shares, or 20% of the company, for between $1.85 and $3.50 apiece in its up to $28 million IPO, which would become only Cambodia’s second-ever stock listing if it goes through. The company is due to price its IPO on Friday, when the book-building process ends, ahead of a planned listing in early May. …
