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BIZCHINA / Top Biz News |
China's Aoyuan and Kingsoft rise in HK debuts(Agencies)
Updated: 2007-10-09 11:01 Shares of Chinese mainland property developer China Aoyuan Property Group Ltd rose 17 percent on Tuesday in Hong Kong after the company's US$467 million initial public offering drew strong demand. The company's shares were indicated at HK$6.10 in pre-market trade, compared with an IPO price of HK$5.20 each, which was at the top of an indicated range. Credit Suisse and Morgan Stanley sponsored the deal. In a weaker debut, shares in Chinese online games and application software company Kingsoft Corp Ltd rose 8 percent after the company's US$98 million IPO. Kingsoft's shares were indicated at HK$3.90 in pre-market trade, compared with an IPO price of HK$3.60 each, which was at the top of an indicated range. Deutsche Bank and Lehman Brothers were the sponsors. The debuts came a day after a disappointing first-day performance from SOHO China Ltd, which finished up 15 percent.
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