At first I thought it was not reading it right, but I was: Sinopharm Group Company, which is China’s largest drug distributor company, recently came out with an IPO, and the issue got oversubscribed 570 times its Hong Kong part!
It attracted about 884 billion dollars (Hong Kong not Zimbabwe), and raised its maximum of HK 8.73 billion dollars. It just goes to show how hot this IPO market has become. In the past I have written about how this is shaping up like a bubble, and this promises to grow much bigger and bigger.