Nexchip rises 11.5pc on IPO debut, Befar slumps 21.3pc

Hong Kong welcomes two new initial public offerings on the Hong Kong Stock Exchange, with Nexchip Semiconductor (2249) rising 11.5 percent at market open, while Befar (6745) extended its losses after sliding in the gray market on Thursday.

Chinese pure-play semiconductor foundry Nexchip Semiconductor rose 11.5 percent to HK$36, compared to its offer price of HK$32.3, delivering a paper gain of HK$370 per 100 shares.

Chinese chemical enterprise Befar dropped 21.3 percent from its offer price of HK$3.48 to HK$2.74. That translates to a paper loss of HK$740 per 1,000 shares.

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