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

Hong Kong's IPO revival faced a challenge as three new stocks opened below their offer prices on their debut, adding pressure to an already sluggish month for initial public offerings. RoboTechnik Intelligent Technology, the largest company to make its debut, saw its shares trade nearly 10 per cent below the offer price. Shenzhen Kinwong Electronic, priced at the top of its marketed range, initially plunged as much as 8.1 per cent but later recovered and rose nearly 11 per cent above its offer price.

The mixed third quarter for Hong Kong listings, with 26 companies listing in September, included blockbuster IPOs from Zhongji Innolight, Shein, and Luxshare, but 12 companies fell below their offer prices on their first trading day.

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