China's Tian Tu Capital falls in Hong Kong debut

Tian Tu Capital

06/10/2023 08:24

** Shares of Chinese investment group Tian Tu Capital Co Ltd
 1973.HK  trading as low as HK$4.49 per share in Hong Kong
debut, 30.9% below its IPO price
    ** Stock last traded at HK$4.99, still down 23.2% from IPO
price of HK$6.50 apiece; benchmark Hang Seng Index  .HSI  up
1.5% 
    ** Private equity investment and fund management group sold
173.3 mln shares in IPO, raising HK$1.13 bln ($144.29 mln)
    ** Brokers say risk appetite for IPO is generally weak
especially when market is still haunted by high interest rate
environment and uncertain macro outlook 
    ** Hang Seng Composite Index tracking financials stocks
 .HSCIF  surges 1.8% and Hang Seng Composite Index  .HSCI  adds
1.5%
    
($1 = 7.8312 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))