BUZZ-Shanghai Longcheer Technology shines in Hong Kong debut

Reuters11:06

BUZZ-<a href="https://laohu8.com/S/603341">Shanghai Longcheer</a> Technology shines in Hong Kong debut

** Shares of Shanghai Longcheer Technology 9611.HK surge as much as 18.9% from their offer price to HK$36.86 in their Hong Kong debut on Thursday, compared with a 0.1% slip in the benchmark Hang Seng Index .HSI

** Shanghai-listed stock 603341.SS slips 1.7% to 47.77 yuan, the lowest level sine January 9

** The Chinese intelligent products developer offered 52.26 mln H shares at HK$31 apiece in the global offering, raising HK$1.62 bln ($207.8 mln) for expansion of production capacity and its manufacturing center in China, for R&D and acquisitions

** Subscription level of its Hong Kong public offering portion is 1,149.76 times, while international offering portion is 9.02 times subscribed

($1 = 7.7966 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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