Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Lukewarm debut for Guotai’s IPO in HK
Print Edition
GUOTAI Junan Securities Co, China’s third-largest brokerage by assets, made a lukewarm debut in Hong Kong yesterday, reflecting a wary attitude from investors for an industry with lingering profit pressures.
Shares closed flat at the same level as its initial public offering price of HK$15.84 (US$2.04). The price fell below its issue price twice during the intraday trading.
“We are satisfied with the company’s debut performance, and believe the price will be fully reflected in the Hong Kong market in trading,” Reuters quoted Guotai’s Chairman Yang Dehong, as saying.
Concerns over volatility in China’s equity markets and a smaller-than-expected discount to the price of its Shanghai-listed stock curtailed demand for the deal, particularly from retail investors, analysts said.
The brokerage, also listed in Shanghai, tapped HK$16.5 billion in its Hong Kong IPO, the biggest in Hong Kong this year. Its float also was the second-largest globally this year, behind the US$3.9 billion IPO of Snap in the US.
Around 15 percent of the funds raised in its Hong Kong IPO will be used to grow the brokerage’s international business this year, documents showed.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
