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1960 - TBK & Sons Holdings News Story

HK$0.178 0.0  0.0%

Last Trade - 1:00am

Market Cap £17.6m
Enterprise Value £3.55m
Revenue £36.7m
Position in Universe 5139th / 5985

BUZZ-Malaysian contractor TBK & Sons soars on HK debut, finance firm LFG falls

Mon 30th September, 2019 7:36am
** Shares of Malaysia-based contractor TBK & Sons Holdings
Ltd  1960.HK  rise up to HK$0.97 in trading debut, a 94% premium
to the IPO price
    ** The stock later trims gains to HK$0.78, up 56% from the
IPO price of HK$0.50, and higher than a 0.6% rise in the
benchmark index  .HSI  
    ** The civil and structural works contractor offered 250 mln
shares in IPO, raising proceeds of HK$87 mln ($11.1 mln) to fund
new projects, expanding workforce, acquiring machinery and to
finance acquisitions         
    ** Other new listing LFG Investment Holdings Ltd  3938.HK 
trades as low as HK$1.19 per share on first day of trading, a
29.2% discount to IPO price of HK$1.68
    ** The finance advisory services provider offered 72 mln
shares in Hong Kong IPO, raising net proceeds of HK$99.8 mln to
fund expansion of its underwriting and securities financing
businesses
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climb 0.6%
    ** Both the Hang Seng Finance Index  .HSNF  and the
benchmark index  .HSI  gain 0.5%


($1 = 7.8409 Hong Kong dollars)

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