Kaisa Property makes tepid HK debut, slips below issue price on listing

iDreamSky Technology Holdings

06/12/2018 05:36

** Shares of Kaisa Property Holdings Ltd  2168.HK  fall as
much as 6 pct to HK$8.82 on debut at the Hong Kong benchmark
index  .HSI , tracking weakness in the broader market 
    ** The property management arm of Kaisa Group Holdings
 1638.HK  offered 35 million shares at HK$9.38 apiece in its
initial public offering (IPO), which was aimed at raising
capital to buy property management firms, develop mobile app and
fund operation automation  urn:newsml:reuters.com:*:nFWN1Y90MV
    ** Shares of parent Kaisa Group also fall as much as 6.6 pct
    ** Shares of other new comer iDreamSky Technology  1119.HK ,
a digital entertainment platform, slides to HK$6.08, falling 7.9
pct below the IPO price of HK$6.60 apiece
    ** Coal producer Yancoal Australia's  3668.HK  stock also
eases to as low as HK$22, down 6.3 pct from IPO price of
HK$23.48 each on debut on Thursday
    ** The Hong Kong benchmark index drops 2.7 pct
    
($1 = 7.8148 Hong Kong dollars)  

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