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Article: Greentown shares soar in HK debut
- Article from:
- China Daily
- Article date:
- July 14, 2006
- Author:
CopyrightCopyright 2006 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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HONG KONG: Shares in mainland property developer Greentown China
Holdings rose by 6.5 per cent during their trading debut in Hong Kong
yesterday, signalling a return to demand for mainland property
issues.
The price surged shortly after trading commenced yesterday,
hovering between HK$8.65 (US$1.11) and HK$8.9 (US$1.14) early in the
day.
It closed at HK$8.75 (US$1.12), up 6.45 per cent compared to its
offer price.
A total of 65.7 million shares were traded yesterday, involving
HK$573.3 million (US$73.5 million).
The performance of the Hangzhou-based company was "strong"
compared to the 1.31 per cent dip of the blue-chip Hang Seng Index
yesterday, the biggest single-day drop in a month, an ...