Asia Cement's strong debut could boost IPO interest
The cement company rallies 38% to become the best first-day performer among Hong Kong IPOs of reasonable size this year.
Bucking the trend of first-day losses that, with a few exceptions, has plagued most of the newcomers to the Hong Kong market this year, Asia Cement soared 38% in its trading debut yesterday. While somewhat company specific, the solid debut should send a positive signal to investors considering whether or not to subscribe to some of the other initial public offerings currently in the market and could perhaps become the trigger for a proper turnaround in the primary market.
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