HONG KONG: Shares in Citic 1616 Holdings Ltd, a Chinese firm that connects international phone calls, rose as much as 76% on their Hong Kong market debut as investors tried to tap the world's largest telephone market by users. The stock rose 68% to HK$4.34 as of 11:52am.
Citic 1616 and parent Citic Pacific Ltd raised US$269mil from selling new and existing stock in the phone-services company, pricing the shares at HK$2.58 each.
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