Chery Automobile surged as much as 14 per cent above its offer price on its Hong Kong stock debut on Thursday morning, as investors flocked to buy shares in China’s second-largest carmaker following its HK$9.15 billion (US$1.18 billion) initial public offering (IPO).
Trading under the stock code 9973, Chery’s shares opened at HK$34.20, an increase of 11 per cent from the offer price of HK$30.75, which was set at the top end of the marketed range.
The buying momentum propelled the price to a peak… Chery Automobile surged as much as 14 per cent above its offer price on its Hong Kong stock debut on Thursday morning, as investors flocked to buy shares in China’s second-largest carmaker following its HK$9.15 billion (US$1.18 billion) initial public offering (IPO).
Trading under the stock code 9973, Chery’s shares opened at HK$34.20, an increase of 11 per cent from the offer price of HK$30.75, which was set at the top end of the marketed range.
The buying momentum propelled the price to a peak…  Read More  South China Morning Post​