Chinese infant milk producer Feihe falls on HK debut, Sprocomm soars

Lever Style

13/11/2019 04:45

** Shares of infant milk producer China Feihe Ltd  6186.HK 
trade as low as HK$7.06 on debut, a 6.2% discount to its IPO
price of HK$7.5 
    ** China Feihe is the third most actively traded stock on
the Hong Kong bourse     
    ** Beijing-headquartered co raised $855 mln in IPO after
pricing its offering of 893.3 mln shares at HK$7.5 per share;
proceeds to be used to repay offshore debts and fund
acquisitions, among others  urn:newsml:reuters.com:*:nL3N27L2PB
    ** Newcomer garment trader Lever Style Corp  1346.HK  drops
to HK$0.69 on first day, down 18.8% from IPO price of HK$0.85
    ** Broader market  .HSI  slumps 2% amid escalating protests
in the city 
    ** However, shares of Shenzhen-based Sprocomm Intelligence
Ltd  1401.HK , which designs and makes mobile phones and printed
circuit board assemblies, buck weak sentiment to trade as high
as HK$0.75 on debut, 50% higher than IPO price of HK$0.5 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  slides 0.3%, and the Hang Seng
Commerce & Industry Index  .HSNC  eases 1.2%
    ** The China enterprises index  .HSCE  falls 1.4%
Hong Kong dollars)

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