HONG KONG, March 6 Shares in Poly Culture Group
Corp Ltd, China's largest art auctioneer, were set to jump 27
percent in its Hong Kong trading debut on Thursday after retail
investors flocked to the IPO, in part because of bets on rising
art prices in China.
Poly Culture was indicated to open at HK$42.00,
compared with an initial public offering price of HK$33.00 per
share. The IPO, which raised $331 million, priced at the top of
a HK$28.20 to HK$33.00 marketing range.
The retail portion of Poly Culture's deal generated 606
times more orders than the shares on offer, following a slew of
recent listings with strong demand from retail investors in Hong
The benchmark Hang Seng index was indicated to open
flat, up 0.04 percent.
(Reporting by Elzio Barreto; Editing by Paul Tait)