UPDATE 1-China's WuXi AppTec ends flat on Hong Kong debut [Reuters (UK)]
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Source: Reuters
China's WuXi AppTec ends flat on Hong Kong debut | Reuters 2 Min Read HONG KONG (Reuters) - Shares of Chinese medical tech platform WuXi AppTec ( 2359.HK ) ended flat on their first day of trading in Hong Kong on Thursday, joining a list of subdued debuts in the city this year with trade tensions keeping investors on tenterhooks. WuXi AppTec, listed in Shanghai ( 603259.SS ), had raised $1 billion in its Hong Kong initial public offering (IPO), valuing the firm at $10.2 billion in a deal that marks one of this year’s last big stock offerings in the Asian financial hub. Its shares opened trade at HK$67 ($8.58) and closed at HK$68, flat compared to the offer price of HK$68. The broader market ended up 1.3 percent. Hong Kong is set to become the world’s top IPO center by volume this year, with $36 billion raised so far, Refinitiv data shows. But despite the flurry, the performance of stocks has been patchy as U.S.-China trade tensions have roiled markets. Many firms like Meituan Dian
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