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China Vanke’s Onewo Slides in First Day of Hong Kong Trading

  • Onewo’s offering draws Temasek among cornerstone investors
  • Company sold shares in the middle of the marketed range
Bloomberg business news
WATCH: Chinese electric-vehicle maker Zhejiang Leapmotor Technology Co. slumped as much as 33%, while Onewo Inc., the property management unit of real estate developer China Vanke Co., fell as much as 7.9% on their Hong Kong trading debut. Filipe Pacheco reports.Source: Bloomberg

Onewo Inc., the property management unit of real estate developer China Vanke Co., slumped in its trading debut in Hong Kong.

The shares declined 7.6% to HK$45.60. They were sold at HK$49.35 each, the mid-point of the marketed range. The IPO raised about about HK$5.8 billion ($739 million).