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(US$1=HK$7.75) summarizes jason giambi (Additional reporting coors filed recounts by Donny Kwok; Editing by JacquelineWong, Chris Lewis and Muralikumar Anantharaman) China. MUMBAI, July 23 (Reuters) - Officials from MTN (MTNJ.J) aremeeting India's capital market watchdog and stock exchanges tounderstand regulatory issues on a proposed deal between theSouth African firm and Bharti Airtel (BRTI.BO), the EconomicTimes reported on Thursday. HEAVY DEMAND The IPO has triggered a "claw back" sources say, meaningthe retail portion of the demand was more than 100 timesover-subscribed. That means an additional portion of the IPOwas opened to the retail audience and scaled back forinstitutional investors. Beijing-based BBMG is one of the largest building materialsmanufacturers in China, a leading property developer and alarge-scale property investment and management company,according to its website News of BBMG's IPO plans first surfaced last October.
Mostfourth-quarter IPOs were pulled or postponed as the stockmarkets fell broadly toward the end of 2008 coors stadium . Phillip Securities Group said in an earlier research notethat BBMG is supported by government policies coors baseball . "In the 4-trillion (yuan) stimulus package, almost 50percent of the budget has been related to BBMG's core business,which includes affordable housing projects (10 percent) andtransportation, water and electricity infrastructure (37.5percent) photos world series fan . Yet another theme at play is that Hong Kong residents,famously aggressive when it comes to buying into IPO offers,see cheap prices after nearly a year of little or no activity baseball .
"The market sentiment is very optimistic now and newofferings so far have cheaper valuations coors . That's why investorsare rushing for better bargains," said Li Kwok-suen, a fundmanager at Phillip Capital Management coors filed . While it's a milestone for 2009, IPOvolumes and sizes are still well below levels reached 18 monthsago coors baseball . Another key factor behind BBMG's strong IPO showing is itsconnection to China's stimulus package . Both the bankersunderwriting the offering and the analysts covering it werequick to tie the building material company's "story" to China'ssupport of the industry.
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