Chinese property manager First Service's shares sink in Hong Kong debut

Modern Land (China)

22/10/2020 04:06

** Shares of Chinese property manager First Service Holding
Ltd  2107.HK  fall as much as 19.6% on their market debut in
Hong Kong 
    ** Beijing-based co's stock trades as low as HK$1.93 per
share, compared with the IPO price of HK$2.40 apiece
    ** Stock last down 18.8% from the IPO price, and is among
one of the most actively traded by turnover 
    ** Sister company of Hong Kong-listed developer Modern Land
(China)  1107.HK  sold 250 mln shares in Hong Kong IPO, raising
HK$600 mln ($77.4 mln) to fund purchase of property management
firms and to invest in energy operation projects  urn:newsml:reuters.com:*:nFWN2HB15P
    ** The Hang Seng China enterprises index  .HSCE  slides
0.3%, and the benchmark index  .HSI  edges down 0.2%


($1 = 7.7500 Hong Kong dollars)

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