Tencent-Backed Linklogis Rises 11% in Hong Kong Debut


Source: yahoo.com yahoo.com

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(Bloomberg) -- Chinese fintech firm Linklogis Inc. rose as much as 11% on its debut in Hong Kong, with the Tencent Holdings Ltd.-backed company poised to snap a recent run of disappointing listings in the city. Its shares pared the gain to 8.1% as of 11:29 a.m. local time. Linklogis priced its $1.02 billion initial public offering near the midpoint of an indicative range at HK$17.58 per share, while the retail portion of its offering was 98.5 times subscribed by local investors. Its performance comes after a run of underwhelming listings in Hong Kong. Fintech firm Bairong Inc. slumped 16%...