Deal Analysis: Lianlian Digitech’s HK$657.15m IPO

On March 28, Hangzhou-headquartered Chinese payment service provider, Lianlian Digitech (Lianlian), went public on the Hong Kong Stock Exchange (HKEX). The initial public offering (IPO) yielded gross proceeds of HK$657.15 million ($83.9 million) at HK$10.22 per share, which dipped by 7.6% by close of listing day and stayed around HK$9.5 per share by the time this story published.