Chinese Gold Specialist, Tech Company Surge in Hong Kong Trading Debuts

Dow Jones06-28

By Kimberley Kao

A trio of Chinese companies posted mixed performances on their first day of trading in Hong Kong, coming amid an uptick in small initial public offerings in the Asian financial hub.

Laopu Gold, a Chinese heritage gold jewelry brand, was 63% higher at 66.10 Hong Kong dollars by midday Friday, and Tianju Dihe (Suzhou) Technology, a data exchange service provider in China, gained 34% to HK$111.60.

Dida, one of China's largest carpooling platforms, was a laggard, with shares dropping 9.7% to HK$5.42.

The three collectively raised about HK$1.36 billion (US$174.2 million) in their IPOs.

Sentiment for new offerings in Hong Kong has remained muted in 2024 amid falling stock prices, China's sputtering economic recovery and geopolitical tensions that have left foreign investors cautious in what was a booming market for new listings a few years ago.

A dozen new listings in the first quarter in Hong Kong collectively raised the equivalent of US$614.7 million, down 28% from a year earlier, according to Hong Kong Exchanges & Clearing. Tea shop giant Sichuan Baicha Baidao Industrial, which raised HK$2.46 billion in the city's biggest IPO of the year in April, has witnessed its shares slip 29% below their pricing.

The pace of listings has picked up recently, with about a dozen companies beginning trade in June alone.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

June 28, 2024 00:59 ET (04:59 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2446544291?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-28 12:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2446544291","market":"nz","top_or_hot":-1,"title":"Chinese Gold Specialist, Tech Company Surge in Hong Kong Trading Debuts","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Kimberley Kao \n</p>\n<pre>\n \n</pre>\n<p>\n  A trio of Chinese companies posted mixed performances on their first day of trading in Hong Kong, coming amid an uptick in small initial public offerings in the Asian financial hub. \n</p>\n<p>\n  Laopu Gold, a Chinese heritage gold jewelry brand, was 63% higher at 66.10 Hong Kong dollars by midday Friday, and Tianju Dihe (Suzhou) Technology, a data exchange service provider in China, gained 34% to HK$111.60. \n</p>\n<p>\n  Dida, one of China's largest carpooling platforms, was a laggard, with shares dropping 9.7% to HK$5.42. \n</p>\n<p>\n  The three collectively raised about HK$1.36 billion (US$174.2 million) in their IPOs. \n</p>\n<p>\n  Sentiment for new offerings in Hong Kong has remained muted in 2024 amid falling stock prices, China's sputtering economic recovery and geopolitical tensions that have left foreign investors cautious in what was a booming market for new listings a few years ago. \n</p>\n<p>\n  A dozen new listings in the first quarter in Hong Kong collectively raised the equivalent of US$614.7 million, down 28% from a year earlier, according to Hong Kong Exchanges &amp; Clearing. Tea shop giant Sichuan Baicha Baidao Industrial, which raised HK$2.46 billion in the city's biggest IPO of the year in April, has witnessed its shares slip 29% below their pricing. \n</p>\n<p>\n  The pace of listings has picked up recently, with about a dozen companies beginning trade in June alone. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 28, 2024 00:59 ET (04:59 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Gold Specialist, Tech Company Surge in Hong Kong Trading Debuts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Gold Specialist, Tech Company Surge in Hong Kong Trading Debuts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-28 12:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Kimberley Kao \n\n\n \n\n\n  A trio of Chinese companies posted mixed performances on their first day of trading in Hong Kong, coming amid an uptick in small initial public offerings in the Asian ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02479","symbol_name":"天聚地合","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2446544291","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446544291","pubTimestamp":1719550740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"A trio of Chinese companies posted mixed performances on their first day of trading in Hong Kong, coming amid an uptick in small initial public offerings in the Asian financial hub.Laopu Gold, a Chinese heritage gold jewelry brand, was 63% higher at 66.10 Hong Kong dollars by midday Friday, and Tianju Dihe  Technology, a data exchange service provider in China, gained 34% to HK$111.60.Dida, one of China's largest carpooling platforms, was a laggard, with shares dropping 9.7% to HK$5.42.The three collectively raised about HK$1.36 billion  in their IPOs.Sentiment for new offerings in Hong Kong has remained muted in 2024 amid falling stock prices, China's sputtering economic recovery and geopolitical tensions that have left foreign investors cautious in what was a booming market for new listings a few years ago.A dozen new listings in the first quarter in Hong Kong collectively raised the equivalent of US$614.7 million, down 28% from a year earlier, according to Hong Kong Exchanges & Clea","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02479":"天聚地合","06181":"老铺黄金","02559":"嘀嗒出行"},"translate_title":"中国黄金专家、科技公司在香港首次交易激增","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02479":0.9,"02559":0.9,"06181":0.9},"content_text":"By Kimberley Kao \n\n\n \n\n\n  A trio of Chinese companies posted mixed performances on their first day of trading in Hong Kong, coming amid an uptick in small initial public offerings in the Asian financial hub. \n\n\n  Laopu Gold, a Chinese heritage gold jewelry brand, was 63% higher at 66.10 Hong Kong dollars by midday Friday, and Tianju Dihe (Suzhou) Technology, a data exchange service provider in China, gained 34% to HK$111.60. \n\n\n  Dida, one of China's largest carpooling platforms, was a laggard, with shares dropping 9.7% to HK$5.42. \n\n\n  The three collectively raised about HK$1.36 billion (US$174.2 million) in their IPOs. \n\n\n  Sentiment for new offerings in Hong Kong has remained muted in 2024 amid falling stock prices, China's sputtering economic recovery and geopolitical tensions that have left foreign investors cautious in what was a booming market for new listings a few years ago. \n\n\n  A dozen new listings in the first quarter in Hong Kong collectively raised the equivalent of US$614.7 million, down 28% from a year earlier, according to Hong Kong Exchanges & Clearing. Tea shop giant Sichuan Baicha Baidao Industrial, which raised HK$2.46 billion in the city's biggest IPO of the year in April, has witnessed its shares slip 29% below their pricing. \n\n\n  The pace of listings has picked up recently, with about a dozen companies beginning trade in June alone. \n\n\n \n\n\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 28, 2024 00:59 ET (04:59 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446544291"}