09639 WING LEE DEV
- 0.420
- -0.030-6.67%
WING LEE DEV News
[IPO Monthly Report] The hot market for Hong Kong IPOs in October remains unabated. The oversubscription ratio of Karotex was 1346 times, and China Resources Beverage may become the "capital freezing king" of the year.
In September, Midea Group Co., Ltd. (00300) raised 35.7 billion yuan, becoming the largest in the Hong Kong stock market since February 2021, the largest in Asia in the first three quarters of 2024, and the second largest in the world by 2024. The Chief Executive Officer of HKEX, Bonnie Chan Yi-Ting, stated: "Recently, the HKEX welcomed the largest in Asia and the second largest in the world in terms of new stock listings this year. Refinancing activities are also very active, demonstrating the depth and attractiveness of our market. The number of new stock listing applications further consolidates Hong Kong's position as the preferred new stock fundraising center in Asia. In addition, Alibaba has converted to a dual primary listing and was subsequently included in the Stock Connect."
Hong Kong stocks closed (10.09) | Hang Seng Index fell by 1.38%, brokerages, infrastructure, shipping stocks continued to decline. Meituan-W (03690) rose against the trend.
The State Council Information Office will hold a press conference on Saturday at noon to introduce the relevant situation of "increasing the intensity of fiscal policy countercyclical adjustment and promoting high-quality economic development". The three major Hong Kong stock indexes rebounded in the afternoon, with all of them falling more than 3% in the early session, but then falling back again in the late session.
Wing Lee Development Construction Slides Almost 32% in Hong Kong Debut
New stock first day | Honli Construction (09639) is listed for the first time, opening 31.51% lower in the morning.
Rongli Construction (09639) made its debut on the stock market. The announcement shows that the price per share is 0.73 Hong Kong dollars, with a total issuance of 0.25 billion shares, in lots of 5000 shares each. The net proceeds are expected to be around 0.1497 billion Hong Kong dollars. As of the time of publication, it has dropped by 31.51%, trading at 0.5 Hong Kong dollars, with a turnover of 38.7323 million Hong Kong dollars.
New stock interpretation | The fluctuation of Rongli's performance is due to the "dependence on major customers". The impact of single non-recurring nature projects on business sustainability.
Performance fluctuates, cash flow is like a roller coaster.
New stock research reports | Rongli Construction (09639) starts its IPO today, introducing three cornerstone investors including Sany Int'l.
Rongli Construction (09639) is now open for public subscription.
Wing Lee Development to Raise Up to HK$183 Million Through Hong Kong IPO
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