Chinese heating systems supplier Zhejiang Sanhua Intelligent Controls had a tepid trading debut in Hong Kong on Monday, with investors selling shares following the initial public offering (IPO) frenzy.
Trading under the code 2050, the stock began trading at HK$20.95 amid a declining market, 7.2 per cent lower than its offer price of HK$22.53, in an upsized offering that raised HK$9.3 billion (US$1.2 billion).
Sanhua’s lack-lustre debut was the first decline in the four billion-dollar stock…Chinese heating systems supplier Zhejiang Sanhua Intelligent Controls had a tepid trading debut in Hong Kong on Monday, with investors selling shares following the initial public offering (IPO) frenzy.
Trading under the code 2050, the stock began trading at HK$20.95 amid a declining market, 7.2 per cent lower than its offer price of HK$22.53, in an upsized offering that raised HK$9.3 billion (US$1.2 billion).
Sanhua’s lack-lustre debut was the first decline in the four billion-dollar stock… Read More
Business – South China Morning Post
