China's Bairong, Unity plunge in HK debut, Megain climbs

Megain Holding (Cayman) Co

31/03/2021 05:15

** Shares of China's artificial intelligence-powered
technology platform operator Bairong Inc  6608.HK  trade as low
as HK$26.65 each in Hong Kong trading debut, 16.2% below their
IPO price
    ** Stock last down 13.2% from the IPO price HK$31.80 apiece;
the ninth most actively traded by turnover on Hong Kong bourse
    ** Beijing-based big data analytics solutions provider, 
which serves the financial services industry, sold 123.82 mln
shares in its Hong Kong IPO, raising HK$3.94 bln ($506.8 mln) to
expand business, develop products and explore technologies
 urn:newsml:reuters.com:*:nFWN2LG0R3
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  climbs 0.8%, and the Hang Seng Tech
Index  .HSTECH  gains 0.2%
    ** Construction contractor Unity Enterprise Holdings
 2195.HK , which raised HK$140 mln in IPO for upgrading
equipment and enhancing safety measures, also falls on debut
with shares down as much as 36.6% from IPO price of HK$0.56 each
    ** However, cartridge chips maker Megain Holding Cayman Co
Ltd  6939.HK  rises on debut, trading as high as HK$1.46, up
15.9% from the IPO price of HK$1.26 each. Stock last up 4.8%
from IPO price 
    ** The Guangdong-based Megain sold 125 mln shares in IPO,
raising HK$157.5 mln for product development and acquisition 
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  slip 0.2%

($1 = 7.7751 Hong Kong dollars)

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