Jinghe Integrated Closes Flat on Hong Kong IPO Debut; Binhua Shares Plunge 18.68%

Two new Hong Kong IPOs showed mixed debut performances on July 10. Jinghe Integrated (02249), a wafer foundry, closed unchanged at HK$36.8, up 13.93% from its offer price of HK$32.3 intraday but retreating to par by market close. Binhua Shares (06745), a chemical manufacturer, fell 18.68% to close at HK$2.83, down from its IPO price of HK$3.48, with a low of HK$2.64.

Jinghe raised HK$6.779 billion with 343.26x oversubscription in the public offering. Binhua raised HK$1.16 billion with 226.58x oversubscription.