Biotech firm Transcenta, Dongguan Rural Commercial Bank sink in Hong Kong debut

Dongguan Rural Commercial Bank Co

29/09/2021 04:39

** Shares of Chinese biopharmaceutical products developer 
Transcenta Holding Ltd  6628.HK  fall to HK$12.08 in debut, down
24.5% from the offering price
    ** Stock last down 23.1% from the offering price of HK$16
each
    ** Anhui, China-based co sold 40.33 mln shares in global
offering, raising HK$645 mln ($5.02 bln)  urn:newsml:reuters.com:*:nFWN2QF0Z2
    ** Co to use proceeds to fund R&D of its pipeline product
candidates and clinical and pre-clinical trials, and for
commercialisation of products 
    ** Dongguan Rural Commercial Bank Co Ltd  9889.HK  falls as
much as 17.8% from the offering price of HK$7.92/share in debut
    ** Shares last down 16.7% at HK$6.60  
    ** Guangdong, China-based bank sold 1.15 bln shares in
global offering, raising HK$9.11 bln  urn:newsml:reuters.com:*:nFWN2QH146
    ** It would use proceeds to strengthen capital base to
support business growth and optimise asset portfolios to
prioritise investments in loan placement 
    ** The Hang Seng Composite Index tracking financials
 .HSCIF  climbs 0.7%, while the healthcare index  .HSCIH  drops
2.4%
    ** The Hang Seng China Enterprises Index  .HSCE  slips 1.2%
and the benchmark index  .HSI  eases 0.8%
($1 = 0.1284 Hong Kong dollars)

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