HK-listed tyre maker Prinx falls below IPO price on trading debut

Prinx Chengshan Holdings

09/10/2018 04:06

** Shares of Chinese radial tyre maker Prinx Chengshan
(Cayman) Holding Ltd  1809.HK  dive below their IPO price on the
first day of trading, falling as much as 18.8 pct to HK$4.78
    ** The stock later trims losses to HK$4.93, still down 16.3
pct from the IPO price of HK$5.89 each  
    ** The Shandong-based company offered 135 million new shares
 at the bottom of the range of HK$5.89–$7.50 each, raising
capital to expand production capacity, to acquire overseas
production facilities and for working capital  urn:newsml:reuters.com:*:nL4N1WL0JJ
    ** The Hong Kong benchmark index  .HSI  rises 0.6 pct

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