Chinese Markets Update
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Submitted by China Stocks Blog
In a bit of a surprise, WSP Holdings Limited’s IPO was priced significantly below the expected range of $10.50 to $12.50 per ADS. JP Morgan was the lead banker on the deal which was priced at $8.50 per share. The manufacturer of seamless casing, tubing and drill pipes for the oil industry will receive total proceeds of about $212.5 million before expenses.
