China's property developer Radiance slides in Hong Kong debut

Radiance Holdings (Group)

29/10/2020 03:29

** Stock of Chinese property development and management
services group Radiance Holdings Group Co Ltd  9993.HK  trades
as low as HK$4.18 per share in its Hong Kong debut on Thursday,
down 2.8% from its IPO price
    ** The stock last traded at HK$4.19, still down 2.6% from
the IPO price of HK$4.30 apiece
    ** Beijing-based property group sold 600 mln shares in its
Hong Kong's IPO, raising HK$2.58 bln ($332.9 mln) to fund the
construction of property development projects, repay loans and
for working capital (https://bit.ly/35KjctC)   
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  slides 0.8%
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  fall 1.1%

($1 = 7.7500 Hong Kong dollars)

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