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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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