Key facts
- Three of four companies that debuted in Hong Kong on Tuesday opened below their offer prices.
- The four companies raised a combined HK$14.4 billion (US$1.83 billion).
- RoboTechnik Intelligent Technology, the largest debutant, traded nearly 10% below its offer price.
Hong Kong's efforts to revive its initial public offering market encountered a significant hurdle on Tuesday as three out of four newly listed companies saw their shares trade below their offer prices on debut. These companies collectively raised HK$14.4 billion (US$1.83 billion).
RoboTechnik Intelligent Technology, the largest of the debutants with a fundraising of HK$5.18 billion, experienced a particularly weak start, with its shares trading nearly 10% lower than the offer price in morning trading.