FourSemi opens 1.1 times higher on Hong Kong trading debut on Tuesday, followed by Tongshifu

Two newly listed Chinese companies made their Hong Kong trading debuts on Tuesday, with Shanghai FourSemi Semiconductor (3625) opening 1.1 times higher.

The smart power amplifier chip design company opened at HK$85.05 on its first trading day, higher than its initial public offering price of HK$40. Each lot of 100 shares gains HK$4,505.

FourSemi's retail portion of the offering was oversubscribed by 3117.4 times. 

But Copper craft manufacturing business Hangzhou Tongshifu Cultural and Creative (0664) opened lower at HK$35.42, a 41 percent drop from its IPO price of HK$60. Each board lot of 100 shares incurs a loss of HK$2,458.

Tongshifu's retail portion of the offering was oversubscribed by 56.8 times.

Gloria Leung