SF refuses to budge on debut

Staff reporter

Chinese courier giant SF Holding (6936) saw its share prices virtually unchanged on its Hong Kong debut yesterday despite a grand listing ceremony yesterday.

SF's A-shares, meanwhile, edged down 0.26 percent to 41.96 yuan (HK$45.17) apiece.

Chairman Wang Wei said at the listing ceremony that the share sale is significant and the group can leverage the city to better expand into international markets.

He delivered most of his speech in Mandarin but concluded in Cantonese, quoting lyrics from the iconic song Below the Lion Rock to express his affection for Hong Kong.

Hong Kong Exchanges and Clearing (0388) chairman Carlson Tong Ka-shing, chief executive Bonnie Chan Yi-ting and head of listing Katherine Ng Kit-shuen attended the ceremony.

Wang also said that SF Holding, which has operated for 31 years and been listed on the Shenzhen Stock Exchange for seven, has overcome numerous challenges and shown its ability to navigate uncertainties, with its recent performance proving its resilience.

In other news, Hangzhou Jiuyuan Gene Engineering is set to price its initial public offering close to the top end of the range at HK$12.42 apiece, aiming to raise HK$560 million.

The biopharmaceutical company, which debuts today, plunged between 21 and 23 percent in the gray market yesterday, closing at HK$9.60 to HK$9.76 per share.

Meanwhile, hydrogen technology firm Refire opens its retail book today with a minimum investment of HK$3,333 per board lot of 20 shares. Refire aims to raise up to HK$796 million in its IPO and is to debut on December 6.