Chinese restaurant chain Jiumaojiu soars on Hong Kong debut

Beijing Enterprises Urban Resources

15/01/2020 04:56

** Shares of Chinese restaurant chain operator Jiumaojiu
International Holdings Ltd  9922.HK  trade as high as HK$9.75 on
trading debut, up 47.7% from the IPO price of HK$6.60 apiece  
    ** Stock ranks the third most actively traded shares in
morning trade
    ** Shares later trim gain to HK$9.39 by lunch break, still
up 42.3% from the IPO price
    ** Guangdong-based Jiumaojiu, which operates 269 restaurants
and manages 41 franchised restaurants in China, offered 333.4
mln shares at HK$6.60 each in the IPO, raising HK$2.2 bln
($282.9 mln) to expand its restaurant network
    ** Proceeds will also be used to enhance procurement system,
and to repay part of a syndicated loan facility
    ** The other newcomer, Beijing Enterprises Urban Resources
Group Ltd  3718.HK , eased on its first day of trading to
HK$0.64 at midday, down 7.2% from an IPO price of HK$0.69 each
    ** The China's environmental hygiene services provider
offered 900 mln shares in Hong Kong IPO, raising HK$621 mln
($79.9 mln), to fund development of waste treatment projects, to
buy sanitation vehicles and to repay bank borrowing
    ** Another new listing CTR Holdings Ltd  1416.HK  trades at
HK$0.29 at midday, down 19.4% from the IPO price of HK$0.36 each
    ** The Singapore-based contracting firm offered 350 mln
shares at HK$0.36 each in Hong Kong IPO, raising HK$126 mln to
pay upfront costs of its projects and to strengthen workforce
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.9%
    ** The Hang Seng China enterprises index  .HSCE  slides
0.7%, and the benchmark index  .HSI  falls 0.9%


($1 = 6.8932 Chinese yuan renminbi)

($1 = 7.7771 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)