HONG KONG (XFN-ASIA) - Pan Asia Environmental Protection Group Ltd (556.HK), a China-based environmental protection services provider, was slightly higher compared to its initial public offering (IPO) price on its first day of trading here.
At 10:07 am , the stock was at 2.83 hkd, up 1.07 pct from the IPO price of 2.80 hkd. It opened at 3.10 hkd and moved within the 2.80-3.10 range.
The retail tranche of the company's IPO was 2.24 times subscribed.
Pan Asia raised net proceeds of 500 mln hkd from the issue of 200 mln shares.
(1 usd = 7.8 hkd)
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