Aux Electric slides 5.4pc on Hong Kong debut

Air conditioner provider Aux Electric (2580) fell 5.4 percent on its Hong Kong debut on Tuesday, delivering a paper loss of HK$188 per board lot for investors.

The stock once dived as much as nearly 10 percent from its offer price of HK$17.42 to HK$15.68 apiece.

It closed at HK$16.48, with a turnover of HK$857 million.

The company's retail tranche was nearly 556.2 times oversubscribed, triggering a claw-back mechanism that allowed retail investors to subscribe to 35 percent of the shares sold in the initial public offering.

HELEN ZHONG