China's LX Technology falls in Hong Kong debut on low investor appetite

LX Technology

24/11/2022 08:19

** Shares of Chinese refurbished and de-commissioned IT
devices reseller LX Technology Group  2436.HK  trade as low as
HK$6.96 in Hong Kong debut on Thursday, down 8.4% from the
offering price
    ** Stock last down 3.8% from the offering price of HK$7.60
apiece, lagging a 0.6% gain in the benchmark Hang Seng Index
 .HSI  and a 0.4% rise in Hang Seng Tech Index  .HSTECH 
    ** The Guangdong-based IT equipment provider sold 53.26 mln
shares in global offering, raising HK$404.8 mln ($51.86 mln) to
expand customer base, improve customer experience, to strengthen
risk management capabilities 
    ** Investor appetite for new listings remains low; the
biggest IPO fundraising so far this year is battery maker CALB's
 3931.HK  $1.28 billion issue
    ** Hang Seng sub-index on information technology firms
 .HSCIIT  slips 0.4%, while Hang Seng Composite Index  .HSCI 
climbs 0.7%
($1 = 7.8056 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))