Hong Kong, Dec. 17 - Shares in Uni-President China Holdings Ltd, the mainland China arm of Taiwan's largest food and beverage conglomerate, were unchanged in their market debut on Monday after it raised US$477 million in a Hong Kong initial public offering.
The flat debut is the latest in a series of recent disappointing first-day performances amid volatile markets.
Shares in Uni-President China, which is a spin-off from Uni-President Enterprises, were indicated at HK$4.22 each in pre-market trade, compared with its IPO price of HK$4.22 per share, which was in the middle of its indicated range.
The company, which is engaged in beverage and instant noodle production and distribution in China, sold 881.72 million shares, or 25 percent of its enlarged share capital, in a deal sponsored by UBS and Morgan Stanley.
(US$1=HK$7.8)