China's Jinmao Property Services dives in Hong Kong debut

Jinmao Property Services

10/03/2022 04:58

** Shares of Jinmao Property Services Co Ltd  0816.HK  trade
as low as HK$5.32 in Hong Kong debut, down 34.6% from the
offering price 
    ** Stock last down 27% from the IPO price of HK$8.14 apiece
    ** Property management arm of developer China Jinmao
Holdings Group  0817.HK  sold 101.4 mln shares in global
offering, raising HK$825 mln ($105.5 mln) for strategic
investment and acquisition, and to upgrade management services
system  urn:newsml:reuters.com:*:nFWN2UZ2DZ
    ** Stock of China Jinmao, which owns 67.5% of the property
manager, slips 1.7%
    ** Hang Seng Mainland Properties Index  .HSMPI  gains 0.4%,
Hang Seng Composite Index tracking properties and construction
stocks  .HSCIPC  climbs 0.7%, and the benchmark Hang Seng Index
 .HSI  rises 1.3%

($1 = 7.8200 Hong Kong dollars)

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