Renhe above ground on debut amid thin trading

Hong Kong's first new listing in two months gains 4.4% after late buying by a couple of Chinese institutions.

Renhe Commercial Holdings gained 4.4% on its first day of trading yesterday to HK$1.18 after buying by a couple of Chinese institutions resulted in a mini-rally in the last 45 minutes of trading. As projected, trading activity was very thin, however, with only 195 million shares changing hands, representing 6.5% of the shares sold through the HK$3.39 billion $435 million initial public offering.

All eyes were on the debut since the underground mall operator was the first company...

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