China's Wuxi Apptec makes subdued Hong Kong debut

Joyzyme

13/12/2018 02:21

** Shares of Chinese medical tech platform Wuxi Apptec Co
Ltd  2359.HK  fall below their issue price on their Hong Kong
trading debut, bucking a firmer trend in the broader market
 .HSI 
    ** The stock trades as low as HK$64.95 in early trade, 4.5
pct below the initial public offering (IPO) issue price of HK$68
apiece
    ** The stock was also the second most actively traded stock
in early Hong Kong trade 
    ** Shanghai-listed WuXi AppTec  603259.SS  raised $1.01
billion in its Hong Kong listing, valuing the company at $10.2
billion in a deal that marks one of this year's last big stock
offerings in the Asian financial hub  urn:newsml:reuters.com:*:nL4N1YC1Q8
    ** Company offered https://bit.ly/2LkCifn 116.47 million
shares at HK$68 apiece in IPO, raising proceed to expand
capacity, to fund acquisition and for developing cutting-edge
technology in lab automation and healthcare data platform
    ** Its Shanghai-listed stock  603259.SS  falls 1.7 pct
    ** Shares of another new listing Huakang Biomedical Holdings
  8622.HK , an in-vitro diagnostic reagents maker, slide https://bit.ly/2UFkhMM
 to HK$0.485 from their issue price of HK$0.50 apiece on trading
debut on Thursday
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  climbs 0.6 pct
    ** The Hong Kong benchmark index  .HSI  rises 0.7 pct


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