Tencent-backed Linklogis rises 9.9% in Hong Kong debut The Edge Markets


Source: theedgemarkets.com theedgemarkets.com

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- A + A (April 9): Chinese fintech firm Linklogis Inc. rose on its debut in Hong Kong, with the Tencent Holdings Ltd.-backed company snapping a recent run of disappointing listings in the city. Shares of the Shenzhen-based firm closed 9.9% higher. Linklogis had 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% during its first day of trading...