China's Flowing Cloud Technology falls in Hong Kong debut

Flowing Cloud Technology

18/10/2022 09:21

** Shares of Chinese augmented and virtual reality marketing
services provider Flowing Cloud Technology Ltd  6610.HK  trade
as low as HK$1.98 in Hong Kong debut on Tuesday, down 10.4% from
the offering price
    ** Stock last traded at HK$2.16, still down 2.3% from the
IPO price of HK$2.21 apiece  
    ** Beijing-based Flowing Cloud sold 271.5 mln shares in IPO,
raising HK$600 mln ($76.44 mln) for enhancing R&D capabilities,
improving services and products sales, and funding acquisitions
and strategic investments  urn:newsml:reuters.com:*:nFWN31F25D
    ** The Hang Seng Commerce & Industry Index  .HSNC  surges
2.4% and the Hang Seng sub-index on information technology firms
 .HSCIIT  jumps 3.4%
    ** The Hang Seng Composite Index  .HSCI  rises 2% and the
Hang Seng Index  .HSI  gains 1.8%
($1 = 7.8497 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))