Leapmotor, Onewo shares open sharply lower in Hong Kong debut (updated)

Onewo

29/09/2022 02:50

(Adds opening share prices, index; changes keywords for media
clients)
       HONG KONG, Sept 29 (Reuters) - Hong Kong's two largest
completed initial public offerings (IPOs) of 2022 worth a
combined $1.5 billion opened sharply lower in their listing
debut on Thursday, dimming the outlook for a pick up in deal
activity for the rest of the year.
    Chinese electric vehicle (EV) maker Zhejiang Leapmotor
Technology's  9863.HK  shares opened at HK$41 ($5.22) apiece,
down 14.5% from their IPO offering price of HK$48. 
    The stock then plunged to $HK34.
    Shares of Onewo Inc  2602.HK , the property services arm of
developer China Vanke Co Ltd  000002.SZ , fell more than 7% at
open from their IPO price HK$49.35.
    Hong Kong's Hang Seng Index  .HSI  opened nearly 2% higher.
 ($1 = 7.8498 Hong Kong dollars)
 (Reporting by Scott Murdoch; Editing by Himani Sarkar)
 ((Scott.Murdoch@thomsonreuters.com;))