China's Excelland Robotics soars after Hong Kong debut
BUZZ-China's Excelland Robotics soars after Hong Kong debut ** Shares of Excelland Robotics (Wuxi) 3231.HK jump as much as 176.5% to HK$39.96 in Hong Kong debut on Wednesday, outperforming a 0.2% slip in the benchmark Hang Seng Index .HSI
** Stock last traded at HK$36.6 in mid-morning, still up 153.3% from the HK$14.45 apiece offer price, with 5.88 million shares worth HK$179.9 million ($22.94 million) changing hands
** China-based robotic products producer sold 45 million H shares in global offering, raising HK$650.3 million ($82.93 million) for R&D, acquisitions and bank loan repayment, among other purposes
** Hong Kong public offering portion was 140.02 times subscribed, while international portion was 0.99 times subscribed
** YTD, Hang Seng TECH Index .HSTECH down 19.7%
($1 = 7.8415 Hong Kong dollars)
(Reporting by Donny Kwok)