asia-cements-strong-debut-could-boost-ipo-interest

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.

So far, investors have been reluctant to commit money to IPOs because their previous investments were still hovering below issue price. By now, four of the five Hong Kong IPOs that were completed in...
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