Zhong An Intelligent Living Service (2271) makes its debut today after raising HK$91.7 million in net proceeds from its initial public offering in Hong Kong.
The property management unit of developer Zhong An Group (0672) set its IPO price at HK$1.18 apiece, the bottom end of the indicative range.
New Media Lab (1284), whose stock debut was disrupted by the No 8 typhoon signal yesterday, is also expected to be listed today.
The Hong Kong-based digital media company has raised HK$101 million in net proceeds for its IPO after pricing its shares at HK$0.92, the upper end of its targeted range. Its retail tranche was oversubscribed 43 times, making it the highest subscribed IPO in the city this year.
Elsewhere, Syngenta Group has approached a number of Middle Eastern sovereign funds as it seeks cornerstone investors for its 65 billion yuan (HK$70.9 billion) IPO in Shanghai, people with knowledge of the matter said.
Advisers for the Chinese-owned seed giant have held preliminary talks with funds including the Abu Dhabi Investment Authority and Saudi Arabia's Public Investment Fund about committing to buy stock in the Shanghai IPO, they said.
Sovereign funds from oil-rich Gulf countries have been ramping up their global deal activity at a time when rising interest rates and risk aversion are keeping some other major investors on the sidelines.
Two firms make their trading debuts today. Bloomberg
