Artini closed at HK$2.22 in the gray market, unchanged from the company's offer price, having hit an intraday high of HK$2.23, up 0.45 percent.

At least seven companies are lining up to list next month and will raise about HK$12.6 billion.

Chongqing Machinery and Electronics Holding is expected to list on June 13. The machine tool maker wants to raise about US$300 million (HK$2.34 billion). Its retail offering lasts from May 30 to June 4. Mainland hot-pot restaurant chain operator Little Sheep Group is considering a June 12 listing to raise US$200 million. Its retail book will be open from May 29 to June 3.

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Retailer Pou Sheng International (Holdings) is likely to list on June 6. It will be followed on to the exchange by Xtep International Holdings in early June. Xtep begins its roadshow today.

Mid-June will see Shandong Chenming Paper Holdings and A8 Digital Music list. Henan-based developer Central China Real Estate and SFK Construction Holdings, which shelved its planned listing in January, are also hoping to join the market before the end of June.

Meanwhile, Agile Property Holding (3383) scrapped its plan to issue US$400 million in bonds to raise funds. Moody's Investors Service said it has withdrawn its Ba3 rating of the mainland developer's proposed senior unsecured notes.

"The rating withdrawal follows the company's decision not to proceed with the issuance," said Moody's analyst Kaven Tsang.