China's toy maker Pop Mart shines in Hong Kong debut, developer Datang falls

Datang group

11/12/2020 02:40

** Shares of Chinese toy maker and retailer Pop Mart
International Group Ltd  9992.HK  trade as high as HK$81.75 each
in Hong Kong trading debut, up 112.3% from the IPO price
    ** Stock most actively traded shares by turnover in early
trade 
    ** The Beijing-based pop toy maker and retailer sold 135.7
mln shares at HK$38.50 apiece in Hong Kong IPO, raising HK$5.23
bln ($674.8 mln) to expand consumer access channels, to expand
IP pool and fund acquisitions  urn:newsml:reuters.com:*:nFWN2IP16S
    ** The IPO drew strong interest from investors, with the
retail offer 356 times oversubscribed
    ** Another newcomer Datang Group Holdings Ltd  2117.HK 
drops as much as 20.8% from its IPO price on trading debut to
HK$3.61 per share 
    ** The Fujian-based property developer sold 333.4 mln shares
at HK$4.56 each in IPO, raising HK$1.52 bln ($196.1 mln) to fund
property projects and to repay bank borrowings  urn:newsml:reuters.com:*:nFWN2IC0ND
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.8%, and the benchmark index  .HSI  gains 0.9%

    ($1 = 7.7509 Hong Kong dollars)

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