Kitchenware maker Carote shines in Hong Kong debut

Carote

02/10/2024 08:16

** Carote  2549.HK  jumps as much as 88.2% to HK$10.88 in
Hong Kong debut; offer price was HK$5.78
    ** Kitchenware maker and distributor, last traded at
HK$9.06, tracks strength of broader market boosted by China's
stimulus measures
    ** Around 104.8 mln shares worth HK$977.4 mln change hands
    ** Carote offered ~130 mln shares in Hong Kong IPO, raising
HK$750.6 mln (~$97 mln) to fund acquisition, product development
and sales channel expansion
    ** Benchmark Hang Seng Index  .HSI , set for its sixth
straight session of gains, is up 6%
    ** Hang Seng Commerce & Industry Index  .HSNC  surges 7%,
while index tracking industrial stocks  .HSCIIG  up 4.7%

($1 = 7.7660 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))