Hong Kong’s IPO revival faces test as three new stocks stumble on debut

AI Summary

Four companies raised a combined HK$14.4 billion in Hong Kong IPOs, but three opened below their offer prices, highlighting pressure on the market. RoboTechnik Intelligent Technology, the largest listing, raised HK$5.18 billion and traded nearly 10% below its offer price in morning trading.

Hong Kong welcomed four companies to start trading on Tuesday after they raised a combined HK$14.4 billion (US$1.83 billion) – but three opened below their offer prices, adding pressure to an already sluggish month for initial public offerings (IPOs). Automated equipment manufacturer RoboTechnik Intelligent Technology was the largest company to make its debut, having raised HK$5.18 billion, but its shares traded nearly 10 per cent below the offer price in morning trading. Shenzhen Kinwong...