The listing came at a time mainland banks face fundraising concerns and pressure to lift capital adequacy ratios.

Minsheng opened at HK$9.05 - 0.33 percent below its offer price at HK$9.08 - and kept falling before closing 3.08 percent lower at HK$8.80.

"We have no financing plan for the coming three years," said Minsheng chairman Dong Wenbiao when asked if the lender needs to raise funds.

Shareholders posted a paper loss of HK$140 per board lot of 500 shares.

The bank's Shanghai-listed shares fell 5.74 percent to 7.88 yuan (HK$8.94).

However, investors' appetite for IPOs was not weakened as the institutional portion of China Longyuan Power's HK$17.5 billion fundraising deal was 10 times oversubscribed, sources revealed.

The firm's retail portion was already four times covered as investors reserved HK$4.8 billion worth of margin financing orders as of yesterday, brokerages said.

Hang Seng Bank (0011) said the margin financing interest rate for Longyuan is as low as 1.15 percent per annum, with a minimum charge of HK$195.

The mainland's largest wind power generator kicks off its public offering today, floating 2.143 billion shares at a price range of HK$6.26 to HK$8.16 apiece.

The retail tranche of Futong Technology Development was about 63 times oversubscribed, locking in HK$987 million, according to margin financing orders received by five brokerages.

One of the top three distributors of IBM products in the mainland closes its retail book today.

Kaisa Group Holdings' retail subscriptions via margin financing amounted to HK$684 million, 1.53 times its public offering size of HK$445 million, brokerages said.

Huayu, a mainland infrastructure firm which invests in, operates, constructs and manages building projects, aims to raise HK$200 million by the end of December, sources said. Mizuho Securities Asia is the sole sponsor.