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Two Chinese companies showed mixed performances on their Hong Kong trading debut on Tuesday.
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Clinical-stage biotechnology company HJ Science (6132) saw its shares fall 56.9 percent to HK$35.26 at market close, compared with its offer price of HK$ 81.80. Each board lot of 100 shares delivered a paper loss of HK$4,654.
The company's retail tranche was oversubscribed by 1,562 times.
Shenzhen Senior Technology Material (6067), a global manufacturer of lithium-ion battery separators, once rose by 49.3 percent to HK$13.41. It then rose 22.5 percent to HK$11 at market close, delivering a paper gain of HK$1,010 per board lot of 500 shares. The company’s retail tranche was oversubscribed by 2,006 times.
Meanwhile, Shaanxi Micot Pharmaceutical Technology rose around 95 percent in the gray market on Tuesday, ahead of its Wednesday debut. Its shares traded between HK$35.5 and HK$45.72 apiece on the over-the-counter market across three major gray-market platforms. That translates to a paper gain of between HK$3,460 and HK$3,504 per board lot of 200 shares.
Shanghai Seer Intelligent Technology fell 7.3 percent to HK$90.35 and HK$94.2 in the gray market on Tuesday, ahead of its Wednesday debut. Each board lot of 50 shares delivered a paper loss of between HK$370 and HK$562.
