With the Hong Kong market flagging in the current quarter, a lacklustre initial trading performance from the world’s largest IPO this year, the $8 billion issue from China Construction Bank, did not help sentiment. The stock closed flat on the first day of dealings after strenuous efforts by underwriters to keep the price above the offering price.
Concerns
Several recent IPO debutants have also experienced bumpy starts to trading on the listing venue of choice for China companies, including Kasen International Holdings, China Yurun Food Group and Guangdong Nan Yue Logistics.
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