HK's biopharma group SinoMab falls on trading debut, advertiser Ruicheng drops

Qian Xun Technology

12/11/2019 03:57

** Shares of SinoMab BioScience Ltd  3681.HK  trade as low
as HK$6.43 per share on trading debut, down 15.4% from the IPO
price and bucking a 0.02% gain in the broader market  .HSI 
    ** Stock the 11th most actively traded in late morning 
    ** The Hong Kong-based biopharmaceutical company issued
182.1 mln shares at HK$7.60 each in IPO, raising HK$1.29 bln
($164.8 mln) net proceeds to fund research & development, and
for commercialization of its drug products  urn:newsml:reuters.com:*:nL3N27F0BK
    ** Newcomer Ruicheng (China) Media Group Ltd  1640.HK 
trades as low as HK$1.12 per share on first day of trading, down
10.4% from the IPO price of HK$1.25 apiece  
    ** Beijing-based advertising services provider issued 100
mln shares at HK$1.25 each, raising HK$78.8 mln to acquire TV
advertising resources and to develop online and outdoor
advertising businesses 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
edges up 0.04%
    ** The Hang Seng China enterprises index  .HSCE  climbs 0.2%
 ($1 = 7.8295 Hong Kong dollars)

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