Supermarket operator Convenience Retail Asia revealed that it has finalised the details of its IPO, which will amount to 25% of its enlarged share capital.

The company commented that it has already received applications of 214 million of the shares in the offering, and the each share would be sold for US14.7cents, representing the upper end of its pricing range. The remaining 80% of the issue, amounting to 131.1 million shares, have been placed with institutional investors.

Convenience Retail controls all the Circle K convenience store outlets situated in Hong Kong, and most of the other stores across China.