Two Chinese tech firms open mixed in HK debut

Two Chinese tech firms delivered mixed performances in their Hong Kong debuts on Wednesday.

Intelligent manufacturing equipment producer Shanghai Top Numerical Control Technology (7688) rose 40.2 percent at the opening, delivering a paper gain of HK$1,061 per board lot of 100 shares.

In contrast, autonomous driving company UISEE Technologies (1511) tracked the decline in the gray market, dropping 7.1 percent, with a paper loss of HK$215 per 50 shares.

Shanghai Top Numerical Control Technology recorded an oversubscription of more than 3,763 times for the retail tranche, raising HK$1.6 billion from the share sales.

UISEE Technologies pocketed HK$795 million from the listing, with its retail tranche oversubscribed by more than 6,776 times. 

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