BUZZ-Jiangsu Lopal Tech's H-shares drop in Hong Kong debut, tracking market slump

Reuters10-30

** H-shares of Jiangsu Lopal Tech fall as much as 23.6% from the offer price to HK$4.20 in Hong Kong debut

** Stock last at HK$5.05, still down 8.2% from the offer price of HK$5.50 and tracking slump in broader market

** Co's Shanghai-listed stock down 3% at 9.94 yuan, lowest since Oct. 18

** The automotive specialty chemicals and lithium iron phosphate cathode materials producer sold 100 mln shares in the H-shares offering, raising HK$550 mln ($70.8 mln) to fund expansion and repay debt

** Hang Seng Tech Index drops 2.4%, while Hang Seng Commerce & Industry Index and Hang Seng Index

both fall 1.6%

($1 = 7.7706 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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