2024年3月19日星期二
 
專家論市
Martin Hennecke

Newly listed firms fail to make gains
 
12/12/2017
 
Three companies made their debut yesterday, but two of the three suffered a setback on the first day of trading of their shares.

Nissin Foods (1475) closed 4.8 percent lower at HK$3.37 against its IPO price of HK$3.54, while Solis Holdings (2227) ended yesterday's trading 18.8 percent lower at 69 HK cents.

Nissin chairman and chief executive Kiyotaka Ando played down the company's initial setback, saying Nissin commands over 60 percent share of the Hong Kong market and it believes there is still vast room for growth.

He said Nissin, led by its flagship brand Demae Itcho, will focus on selling premium, high-quality products in China by expanding in the future its product type offers, including potato chips products.

Ando said Nissin hopes its cup noodles business on the mainland will record double-digit growth in the future as it noted the growing demand for premium instant noodles in the country.

Nissin Foods, which is based in Osaka and is a spinoff of Tokyo-listed Nissin Foods Holdings, raised HK$951 million from its Hong Kong offering.

The retail tranche of its IPO was oversubscribed 32 times.

Meanwhile, Solis Holdings (2227) opened trading yesterday down 19 percent and it closed 18.8 percent lower at 69 HK cents. Its investors incurred a paper loss of HK$640 for every board lot of 4,000 shares.

Reverine China Holdings (1417) performed better than Nissin and Solis as it closed 3.2 percent higher at HK$1.60 compared to its IPO price of HK$1.55.

In other IPO action, Centurion Corporation (6090) closed at HK$3.21 in the gray market yesterday, up 0.94 percent from its IPO price of HK$3.18. Its shares will start trading today.

Listing candidate China Education Group Holdings is set to price its IPO at HK$6.45, toward the middle of its indicative price range of HK$5.86 and HK$7.02. It plans to raise HK$3.2 billion from its public offering.

Elsewhere, HNA is reportedly considering an IPO for its Swiss airline catering unit, Gategroup Holding, in the second quarter of next year.

上一篇新聞 : Second phase of e-HKD pilot begins
 

 

 
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