China lithium battery maker CALB slips in HK debut, AIM Vaccine sinks

AIM Vaccine

06/10/2022 04:35

** Shares of Chinese lithium battery maker CALB Co Ltd
 3931.HK  trade as low as HK$37.35 in Hong Kong debut, 1.7%
below their offering price of HK$38 apiece
    ** Stock climbs to HK$38.45 after a flat open, then falls
below offering price; most actively traded by turnover on the
Hong Kong bourse
    ** Jiangsu-based CALB sold 265.8 mln shares in initial
public offering (IPO), raising $1.28 bln in the city's largest
IPO in 2022 to fund construction of production facilities,
research and development, and for working capital  urn:newsml:reuters.com:*:nL1N31702E
    ** Broader market down 0.6%  .HSI  
    ** Brokers say appetite for IPOs remains weak in volatile
markets, while more choices of firms with proven track record
discourage investors from betting on new listings 
    ** Shares of AIM Vaccine Co Ltd  6660.HK  also fall, trading
as low as HK$14.90 on debut, down 7.8% from the offering price
of HK$16.16 apiece 
    ** Beijing-based biological products maker sold 9.7 mln
shares in IPO, raising HK$157 mln for purchase of equipment,
building factories and for clinical trials  urn:newsml:reuters.com:*:nFWN30T30U 
    ** The Hang Seng Commerce & Industry Index  .HSNC  slips
0.8% and the Hang Seng Tech Index  .HSTECH  falls 1.2%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))