Few investors cancel IPO subscriptions despite market slumpBusiness | 22 May 2020 7:19 pm
Despite a slump in the overall stock market, few investors have canceled their subscription to shares of Yeahka and Haina Intelligent Equipment International, which are scheduled to debut on June 1 and June 3, respectively.
Local brokers have lent around HK$31.5 billion to Yeahka, the mainland payment solution provider backed by Tencent (0700), a 191 times oversubscription for its retail tranche as of 6 pm.
Meanwhile, Haina Intelligent Equipment International's shares have been 93 times oversubscribed, receiving funds of HK$1.6 billion from brokers.
Shares of Kintor Pharmaceutical (9939) rose 6.7 percent to HK$21.50 on debut.