China Resources Cement falls below IPO price

China Resources Cement falls below IPO price
Published: 06 October 2009

China Resources Cement slightly below its offer price in early Hong Kong trading Tuesday, marking a disappointing start for the city’s latest initial public offering. Shares of China Resources Cement were quoted at HK$3.85 ($0.50), a fall of 1.2% from its IPO price of HK$3.90. The weaker debut comes as the city’s five previous IPOs ended first-day trade below their offer prices. China Resources Cement’s shares were indicated in marketing literature to price between HK$3.20 and HK$3.90.