Nov 5 (Reuters) – Shares of Chinese electric vehicle maker Seres Group , the EV partner of technology firm Huawei (HWT.UL), fell almost 2% in the company’s Hong Kong Stock Exchange debut on Wednesday after it raised $1.84 billion in a listing.
Seres Group, already listed in Shanghai, sold 108.6 million shares at HK$131.50 each in the deal where the initial number of shares was increased during the bookbuilding process due to strong demand.
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The retail portion of Seres’ listing was nearly 133 times oversubscribed while the institutional tranche was about 9 times oversubscribed, according to the company’s regulatory filings.
Reporting by Scott Murdoch in Sydney; Editing by Muralikumar Anantharaman
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