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Companies

China Bohai Bank fails to excite on Hong Kong IPO debut

Lender's shares drop below offer price in initial trading

HONG KONG -- Standard Chartered-backed China Bohai Bank fell below its offer price on its debut after raising $1.78 billion in an intial public offering on Thursday, marking Hong Kong's largest primary share listing so far this year.

Shares in the lender, based in the north-eastern port city of Tianjin, were trading at 4.76 Hong Kong dollars in early trade. They opened flat at HK$4.8 and fell as low as HK$4.74. The city's Hang Seng Index was down 0.5%.

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