China Cinda Asset Management Co. plans to sell shares in a Hong Kong initial public offering at near the top end of a marketed price range to raise about $2.5 billion, said two people with knowledge of the matter.
Damac Real Estate Development Ltd., a Dubai-based property developer, priced its London-listed global depositary receipts at $12.25 each, the bottom of its range, in an initial public offering that values the company at about $2.65 billion.
The Portuguese government is raising about 578 million euros ($783 million) from the disposal of a 70 percent stake in the country’s 493-year-old postal service after setting the price at the top of its announced range.
Gold, shown by a technical indicator to be in a bearish trend the past month, fell below a Fibonacci level that suggests prices may decline to this year’s low of $1,180.50 an ounce, according to analysis by Commerzbank AG.
Moncler, an Italian maker of $1,220 quilted polyester jackets, has demand for all the shares in its initial public offering to raise as much as 783 million euros ($1.1 billion), said three people with knowledge of the sale.
Dubai and Abu Dhabi are finding that outperforming stocks markets aren’t enough to lure initial public offerings as restrictive regulations and a lack of trading volume persuade local companies to list in London.