China's Ming Yuan Cloud shares set to rise 56% in Hong Kong debut

Ming Yuan Cloud group

25/09/2020 02:20

HONG KONG, Sept 25 (Reuters) - Shares of Chinese property
software services provider Ming Yuan Cloud Group Holdings Ltd
 0909.HK  are set to open at HK$25.80 per share in its Hong Kong
trading debut on Friday, up 56.4% from the IPO price of HK$16.50
apiece 
    Guangdong-based software firm sold 374 million primary
shares in the IPO, raising HK$6.17 billion ($796.15 million) to
help from upgrading technologies to funding sales and strategic
investments and acquisitions.
    The deal was 644 times oversubscribed by retail investors,
according to documents lodged with the exchange, continuing the
recent trend of strong participation in Hong Kong IPOs by mom
and pop investors. 


($1 = 7.7498 Hong Kong dollars)

 (Reporting by Scott Murdoch and Donny Kwok
Editing by Shri Navaratnam)
 ((Scott.Murdoch@thomsonreuters.com;))