Kasen International Holdings, China’s leading leather products and furniture manufacturer, priced its initial public offering at the bottom end of its indicated range, raising HK$775 million after a tough sell to retail investors, people close to the deal said.

The company sold 304 million shares at HK$2.55 per share, the lowest end of an indicative range that had HK$3.15 at the top end.

Source: [http://www.thestandard.com.hk] (dated October 18)