LATEST: Chipmaker Hua Hong jumps 15% in its Shanghai debut, after its $3 billion second listing became Asia's biggest share sale this year
Hua Hong Semiconductor Ltd.
jumped in its trading debut in Shanghai after it raised 21.2 billion yuan in the largest sale of new equity in the Asia Pacific region this year. The stock rose as high as 15% in early trade before paring gains. The firm sold 408 million shares, or 24% of its total share capital, at 52 yuan each. Half of the offering was alloted to 30 strategic investors, with the rest distributed among funds and individuals. The company’s Hong Kong-listed shares fell as much as 7.6%.
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