New World Department Store Shares Met with Tepid Demand
New World Department Store China Ltd. rose less than expected on its share debut. Shares of the unit of blue-chip conglomerate New World Development Co. ended trading at HK$5.95 (76 U.S. cents) each, 2.6% above the initial public offering price of HK$5.80. Analysts had predicted a rise of 10% to 15%. The shares traded as high as HK$6.85.
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