Tencent-Backed Maoyan opens broadly flat on Hong Kong debut

Maoyan Entertainment

04/02/2019 01:31

HONG KONG, Feb 4 (Reuters) - Maoyan Entertainment  1896.HK ,
China's top movie-ticketing platform by sales and backed by
Tencent Holdings Ltd  0700.HK , opened broadly flat at HK$14.82
($1.89) on its Hong Kong stock market debut on Monday, after
raising $250 million in a smaller IPO than expected.
    Shares in Maoyan Entertainment rose as much as HK$14.94 in
early morning trade, barely 1 percent higher than the initial
public offering (IPO) price of HK$14.8, which was already at the
bottom end of an indicative range.

($1 = 7.8449 Hong Kong dollars)

 (Reporting by Julia Fioretti; Editing by Christopher Cushing)
 ((julia.fioretti@thomsonreuters.com; +852 2912 6686; Reuters
Messaging: julia.fioretti.thomsonreuters.com@reuters.net))