Chuangxin Industries jumps in Hong Kong debut

About this update from Chuangxin Industries Holdings Limited

** Shares of electrolytic aluminum and alumina producer Chuangxin Industries Holdings HKEX:2788 rise as much as 43.8% from the offer price to HK$15.8 each in Hong Kong debut on Monday, outpacing a 1.5% gain the broader market HSI:HSI ** Stock trims gains to HK$15.05 in mid-morning trade, still up 36.9% from the offer price of HK$10.99 apiece, with 114.6 mln shares worth HK$1.65 bln ($212.02 mln) changing hands** Stock is sixth most actively traded by turnover ** Chuangxin sold 500 mln shares in global offering, raising HK$5.5 bln ($706.72 mln) for expanding overseas production capacity, to fund green energy projects and for working capital** Subscription level of the public offering portion is 447.2 times, international offering portion is 19.85 times ($1 = 7.7824 Hong Kong dollars)

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