China medical group ClouDr dives in Hong Kong debut

ClouDr

06/07/2022 06:38

** Shares of Chinese online medical products and services
provider ClouDr Group Ltd  9955.HK  trade as low as HK$26.75 in
their Hong Kong debut
    ** Stock trades 12.3% below the offer price of HK$30.50
apiece
    ** "Market sentiment and appetite for new listings remain
weak when there are many bargains available in the market, while
investors are still lacking confidence in the market," said
Linus Yip, chief strategist at First Shanghai Securities
    ** The Zhejiang, China-based online healthare platform
offered 19 mln shares for sale, raising HK$579.5 mln ($73.85
mln) for business expansion, to advance technology capabilities
and fund strategic investments and acquisitions  urn:newsml:reuters.com:*:nFWN2Y90XV
    ** Morgan Stanley and J.P. Morgan are the joint bookrunners
and joint lead managers
    ** The Hang Seng Composite Index on industrials  .HSCIIG 
eases 1.1%, while healthcare index  .HSCIH  climbs 0.2%
    ** The Hang Seng Composite Index  .HSCI  falls 1.3% and the
benchmark Hang Seng Index  .HSI  drops 1.4%

    ($1 = 7.8472 Hong Kong dollars)

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