CICC stars on Hong Kong debut

With fortuitous timing, China's first joint venture investment bank posted one of the year's best first-day share price performances in Hong Kong.

China International Capital Corp posted one of Hong Kong's best trading debuts of the year so far  as its share price rose by 7.4% on Monday, bolstered by a supportive backdrop as investors welcomed the resumption of initial public offerings on the Chinese mainland.

Shares in the country’s first joint venture investment bank jumped to HK$11.04 by the close from its IPO price of HK$10.28. CICC cut the size of its IPO by almost 20% at the end of last month due to the more bearish outlook towards the Chinese securities industry at the time, raising $811 million as a result rather than...

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