China's e-commerce group Zibuyu shines in Hong Kong debut

Zibuyu

11/11/2022 06:56

** Shares of Chinese e-commerce firm Zibuyu Group  2420.HK 
trade as high as HK$9.40 each in Hong Kong debut, up 19.6% from
the offering price, tracking strength in the broader market
after Wall Street gains and hope of easing COVID curbs in the
mainland
    ** Stock last up 8.8% from HK$7.86 apiece offering price  
    ** Zhejiang-based company sold 29.25 mln shares in global
offering, raising HK$229.9 mln ($29.34 mln) to enhance sales and
branding capabilities, supply chain management system, for R&D
and to establish online stores  urn:newsml:reuters.com:*:nFWN31U0HL
    ** Hang Seng consumer goods and services index  .HSCGSI 
surges 7% and the Hang Seng Tech Index  .HSTECH  jumps 8.9%
    ** Hang Seng Composite Index  .HSCI  rises 6.6% and Hang
Seng Index  .HSI  up 7%
($1 = 7.8365 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))