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StanChart announces float pricing

StanChart announces float pricing

(Hong Kong) - Asian banking specialist Standard Chartered has announced the pricing for its 244 million pound Hong Kong float, setting a price discounted 2 percent on last Friday's closing price in London. StanChart said the shares would be offered at HK$84 each, and the shares will begin trading in Hong Kong on Thursday.

2.7 percent of the company's issued share capital has been offered, or around 30 million shares.

StanChart said the institutional tranche, which comprises 87 percent of the total offer, had been two times oversubscribed.
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