Three Chinese firms rise on Hong Kong IPO debut

Shares of three Chinese new listings all closed higher on their Hong Kong debuts on Monday, with Baige Online Digital Technology (2672) jumping over 3.5 times.

The InsurTech company surged 369 percent to HK$73, delivering a paper gain of HK$11,480 per board lot of 200 shares.

The biopharmaceutical firm Alebund Pharmaceuticals (Jiangsu) (9637) also closed 104 percent higher, with a paper gain of HK$2,340 per board lot of 100 shares.

Crealights Technology (1191), an optoelectronic interconnection products provider, climbed 44.7 percent to HK$165 at close. Compared with its offer price of HK$114, investors can pocket HK$2,550 per 50 shares.

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