HONG KONG, May 19 (Reuters) - Shares in BOCOM International Holdings Company were set to open 1.5 percent higher in their debut on Friday, after the Hong Kong investment banking arm of China’s fifth-biggest bank raised $230 million in an initial public offering.
BOCOM International was indicated to open at HK$2.72, compared with the HK$2.68 IPO price. The benchmark Hang Seng index was poised to open 0.1 percent higher.
Demand from retail investors - who have a significant influence over first-day trading in Hong Kong share offerings - accounted for just 2.5 times the number of shares on offer in the deal, BOCOM International said in a filing on Thursday, while the institutional tranche was moderately oversubscribed. (Reporting by Elzio Barreto; Editing by Edwina Gibbs)