Channel NewsAsia
AsiaPac · 25 mins ago
Apple supplier Luxshare leads lukewarm IPOs in Hong Kong as investors get picky
HONG KONG, July 9 : Shares of Luxshare Precision Industry led losses among IPO debutants in Hong Kong on Thursday after raising HK$24.27 billion ($3.10 billion) in the city's biggest listing this year, as investors became more selective amid a fundraising rush and rising volatility. The stock dropped as much as 9.6 per cent to a low of HK$57.2 compared with its offer price of HK$63.28. At market close, it last traded at HK$60 a share.Luxshare's debut is the latest in a line of share offerings by Chinese technology and advanced manufacturing firms in Hong Kong, as they seek to fund expansion and research in electronics, chips and artificial intelligence.Knowledge Atlas Technology, also known as Zhipu AI, launched a roughly $4 billion Hong Kong share placement on Wednesday with shares climbi
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