RoboTechnik Drops on Hong Kong Debut
Chinese automation equipment maker RoboTechnik fell nearly five percent in its Hong Kong trading debut after raising over six hundred million dollars. The company joined several firms starting trade as investor appetite tests the recovering IPO market.
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ROBOTECHNIK INTELLIGENT TE-A shares fell nearly 5% in their Hong Kong trading debut Tuesday after raising $660.4M in an initial public offering. The stock opened higher before sliding to close below its offer price amid a weak broader market. The listing tests investor appetite as new share offerings accelerate across China and Hong Kong.
