STOCKWATCH-China Netcom (Hong Kong) opens higher vs offer
price on debut
HONG KONG (AFX) - China Netcom Group Corp (Hong Kong) (906.HK) was sharply
higher from its offer price on debut on the Stock Exchange of Hong Kong's
mainboard.
It opened at 9.40 hkd a share, up 12 pct from its intial public offering
price of 8.40 hkd, but off a high of 9.50. The 1.1 bln usd global share
offering was heavily oversubscribed.
The mainland-based phone firm also posted sharp gains in New York overnight,
opening at 23.85 usd per American depositary share (ADS), well above the
issue price of 21.82 usd. It closed at 24.90 usd, a gain of 14 pct.
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