Shanghai HeartCare plunges in HK debut amid regulatory worries

Ping An Healthcare and Technology Co

20/08/2021 06:58

** Shares of medical devices maker Shanghai HeartCare
Medical Technology Corp  6609.HK  trade as low as HK$127.80 in
their debut on Friday, down 33.8% from offer price
    ** Stock last traded at HK$131, still down 23.4% from the
offer price of HK$171
    ** Shanghai-based group sold 6.6 mln shares in the global
offering, raising HK$1.13 bln ($145.1 mln) to fund research and
development, manufacturing of core products and expansion of
product portfolio  urn:newsml:reuters.com:*:nFWN2PG15C
    ** Hong Kong's healthcare index  .HSCIH  plunges 8.6% to the
lowest since December 2020, as concerns grow the sector could
also find itself in regulators' crosshairs 
    ** Shares of Ping An Healthcare  1833.HK  plunge 18.4% to
HK$55.55, the lowest since January 2020
    ** Alibaba Health  0241.HK  drops 15% to the lowest since
January 2020, and JD Health  6618.HK  down 13.6% to the lowest
since listing on Dec. 8
    ** The Hang Seng China Enterprises Index  .HSCE  falls 2.7%
and the benchmark index  .HSI  declines 2.5%



($1 = 7.7897 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))