Shares of Power-Tool Supplier Chervon Holdings Gain in Hong Kong Debut
Shares of Chervon Holdings Ltd. rose in their Hong Kong debut, after the power-tool supplier raised 2.96 billion Hong Kong dollars in net proceeds from an initial public offering.The Nanjing-based company’s stock opened 19% higher at HK$51.80, compared with its IPO price of HK$43.60 a share. Shares rose as much as 25% in early trade but have since pared gains and were recently up 22% at HK$53.00.The maker of products including riding mowers, blowers, chainsaws and sanders under brands such as E
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