Investment firm China Renaissance falls on HK debut; HK Asia Holdings soars on listing

Moon

27/09/2018 04:16

** Shares of new economy-focused China Renaissance Holdings
Ltd  1911.HK  dive below their IPO price on market debut,
falling as much as 19.5 pct to HK$25.60
    ** Stock of the Beijing-based investment banking firm, the
6th most actively traded shares on Thursday morning, trims loss
to HK$26.95 later, still down 15.3 pct from the HK$31.80 IPO
price
    ** The company issues 85.01 mln shares, raising HK$2.53 bln
($323.9 mln) in net proceeds to expand businesses in investment
banking, investment management, wealth management, and for
technology investment across its business lines https://bit.ly/2xSd4hL
    ** Shares of another newcomer HK Asia Holdings Ltd
 1723.HK , a wholesaler and retailer of pre-paid SIM cards and
top-up vouchers, soar as high as to HK$2.57 per share on debut,
from the IPO price of HK$1 apiece
    ** HK Asia Holdings shares later trim gains to HK$2.22
    ** HK Asia issues 100 mln shares at HK$1 each, raising
proceeds to set up five shops in Hong Kong https://bit.ly/2N6ugpm
 
    ** The Hong Kong benchmark index  .HSI  eases 0.1 pct
 ($1 = 7.8103 Hong Kong dollars)

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