HK's Hope Education slips below IPO price on trading debut

XJ International Holdings

03/08/2018 04:44

** Shares of Hope Education Group Co Ltd  1765.HK , the
third-most heavily traded stock on Friday morning, fall as much
as 5.7 pct from their issue price to HK$1.81 on its trading
debut
    ** The stock trims losses to HK$1.89 as at 0324 GMT, still
down 1.6 pct from its issue price of HK$1.92 apiece    
    ** The schools and colleges operator in China issued 1.67
billion shares in a Hong Kong IPO at HK$1.92 apiece, raising
HK$3.2 billion ($408 million) to fund the purchase of higher
education schools and to build new campuses  urn:newsml:reuters.com:*:nL4N1UQ3JW
    ** Co is backed by several high-profile shareholders
including Citic Prudential Life Insurance and China Everbright
    ** The Hong Kong benchmark index  .HSI  gains 0.1 pct


($1 = 7.8493 Hong Kong dollars)

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