Malaysian contractor TBK & Sons soars on HK debut, finance firm LFG falls

LFG Investment Holdings

30/09/2019 07:36

** Shares of Malaysia-based contractor TBK & Sons Holdings
Ltd  1960.HK  rise up to HK$0.97 in trading debut, a 94% premium
to the IPO price
    ** The stock later trims gains to HK$0.78, up 56% from the
IPO price of HK$0.50, and higher than a 0.6% rise in the
benchmark index  .HSI  
    ** The civil and structural works contractor offered 250 mln
shares in IPO, raising proceeds of HK$87 mln ($11.1 mln) to fund
new projects, expanding workforce, acquiring machinery and to
finance acquisitions         
    ** Other new listing LFG Investment Holdings Ltd  3938.HK 
trades as low as HK$1.19 per share on first day of trading, a
29.2% discount to IPO price of HK$1.68
    ** The finance advisory services provider offered 72 mln
shares in Hong Kong IPO, raising net proceeds of HK$99.8 mln to
fund expansion of its underwriting and securities financing
businesses
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climb 0.6%
    ** Both the Hang Seng Finance Index  .HSNF  and the
benchmark index  .HSI  gain 0.5%


($1 = 7.8409 Hong Kong dollars)

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