Values Cultural, Gench Education soar on HK debut, 5 others fall

SANVO Fine Chemicals

16/01/2020 07:10

** Shares of Values Cultural Investment Ltd  1740.HK  soar
as high as HK$1.02 each on trading debut, up 104% from their IPO
price of HK$0.50 apiece 
    ** The stock later trims gain to HK$0.77 in afternoon trade,
still up 54% from the IPO price
    ** China's TV series broadcasting rights licensing group
offered 250 mln shares in Hong Kong IPO, raising HK$125 mln 
($16.1 mln) to fund production of TV series, purchasing of
copyrights associated with the series
    ** Other newcomer Shanghai Gench Education Group  1525.HK 
trades as high as HK$7.14 per share on first day of trading, up
18% from the IPO price of HK$6.05 each
    ** The Chinese higher education services provider offered
100 mln shares in Hong Kong IPO, raising HK$605 mln ($77.9 mln)
to fund expansion of school network, construction of campus,
repay loans and for working capital
    ** Other new listings trade below their IPO prices with home
decorations manufacturer Kwungs Holdings  1925.HK  as low as at
HK$0.91 on debut, down 28.9% from IPO price of HK$1.28, while
marketing service firm Activation Group  9919.HK  trades as low
as HK$1.60, or 20.8% below IPO price HK$2.02
    ** Property developer Huijing Holdings  9968.HK  trades 4.1%
below IPO price, chemical products maker Sanvo Fine Chemicals
Group  0301.HK  down 8.5%, and paper products maker QP Group
 1412.HK  is 10.2% below IPO price
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.2%, and the property sub-index  .HSNP  rises 0.9%
    ** The Hang Seng China enterprises index  .HSCE  slides
0.1%, and the benchmark index  .HSI  edges down 0.02%

    ($1 = 7.7711 Hong Kong dollars)

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