China's Shenzhen Longsys Electronics slips in gray market

Chinese chipmaker Shenzhen Longsys Electronics inched down across Hong Kong's three major gray markets ahead of its trading debut on Tuesday.

It once rose 0.42 percent before closing 0.34 percent lower at HK$235.2 on Futu Securities' platform. Compared with its offer price of HK$236 per share, it translates to a paper loss of HK$40 per borad lot of 50 shares.

The firm fell the most on Bright Smart Securities' platform, down 1.1 percent, delivering a paper loss of HK$130 per borad lot of 50 shares.
 
It also dropped 0.68 percent to HK$234.4 on Philip Securities' platform.

The Shenzhen-listed company is seeking to raise about HK$6.15 billion via the sale of 26.1 million H shares. 

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