Global New Material shines in Hong Kong debut, other debutants fall

Kangqiao Service

16/07/2021 06:08

** Shares of Global New Material International  6616.HK 
rise to as much as HK$4.25 in Hong Kong debut on Friday, up
30.8% from the offer price of HK$3.25 each
    ** The Chinese pearlescent pigment producer sold 291 mln
shares in its IPO, raising HK$946 mln ($121.8 mln) for
construction and investment in a production plant 
    ** Kindstar Globalgene Technology Inc  9960.HK  falls to as
much as HK$9.06 on debut, down 7.4% from the offer price of
HK$9.78 per share 
    ** The clinical testing services provider sold 226.4 mln
shares in its IPO, raising HK$2.21 bln for R&D,
commercialisation of new lines of esoteric testing services and
for acquisitions  urn:newsml:reuters.com:*:nFWN2OQ0X5    
    ** New joiner Ronshine Service Holding Co Ltd  2207.HK 
falls 2% to HK$4.78. The property manager sold 125 mln shares at
HK$4.88 each, raising HK$598 mln for acquisition and to
diversify its project portfolio
    ** Property manger Kangqiao Service Group  2205.HK  falls
7.1% from the offer price of HK$3.68 each to a low of HK$3.42 on
debut 
    ** Education services provider China General Education Group
  2175.HK  drops to HK$3.29, down 10.8% from the offer price of
HK$3.69  
    ** Both the Hang Seng Commerce & Industry Index  .HSNC  and
the benchmark index  .HSI  climb 0.5% 
($1=7.7679 Hong Kong dollars)

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