Jinshang Bank rises in gray market

Business | Avery Chen and Reuters 18 Jul 2019

Jinshang Bank (2558), the provincial city commercial bank in Shanxi Province, starts trading on the main board today. Shares rose 2.88 percent to HK$3.93 in the Bright Smart gray market last night.

Jinshang Bank has raised HK$3.17 billion after pricing its initial public offering at HK$3.82, the lower half of the marketed price range of HK$3.8 to HK$3.98. Its retail tranche was only 18 percent subscribed.

Hong Kong Exchanges and Clearing (0388) launches the first batch of Inline Warrants today, which give investors the opportunity to receive a pre-determined fixed payment, depending on whether the price of the underlying asset falls within or outside the upper and lower strikes at the expiry of the warrant.

In the first batch, Inline Warrants will initially be issued on the five most actively-traded stocks on the Hang Seng Index, Tencent (0700), China Construction Bank (0939), China Mobile (0941), AIA (1299) and Ping An Insurance (2318).

Meanwhile, shares of Yangzhou Guangling District Taihe Rural Micro-finance (1915) rose 0.71 percent to HK$2.82 after transferring of listing from growth enterprise market to main board.

Elsewhere, DouYu International, China's largest live-streaming platform backed by Tencent, said it sold US$775 million (HK$6.05 billion) in stock at a US$3.73 billion valuation after pricing its U.S. IPO at the bottom of an indicative range.

Search Archive

Advanced Search
August 2019
S M T W T F S

Today's Standard



Yearly Magazine

Yearly Magazine