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    QONEQT in China Vanke

    29-Sep-2022 08:30 AM


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    China Vanke Unit Onewo Slumps 8% in Hong Kong Debut By Investing.com

    Shares of Onewo Inc (HK: ), the property management unit of China Vanke Co Ltd (HK: ), tumbled in their Hong Kong debut amid weak risk appetite and overall aversion to China-exposed property stocks.

    Shares of the firm dropped as much as 7.6% to HK$45.45, after being priced at $49.35 each- the mid-point of the targeted share price in the initial public offering.

    The IPO, one of Hong Kong’s largest this year, also comes amid trying times for the Chinese property market.
    Chinese property bonds and stocks have plummeted this year amid growing concerns over sustainable growth in the space.

    Onewo offers property management services that incorporate artificial intelligence and business process outsourcing models.

    Vanke holds roughly 60% of the firm after the IPO.
    Source: Investing.com
    #Vanke