Want Want shares flat in HK debut

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HONG KONG, March 26 (Reuters) - Shares in Taiwan-based snack maker Want Want China Holdings Ltd (0151.HK: Quote, Profile, Research, Stock Buzz) were flat in their Hong Kong debut on Wednesday, after the firm raised $1 billion in a Hong Kong initial public offering.

The company is the fourth this year after several companies in the first quarter postponed or scrapped planned listings.

Shares in Want Want, which is one of top food and beverage makers in China, were set at HK$3.00 in pre-open trade, the same as their Hong Kong IPO price of HK$3.0, which had been at the bottom of an indicated range.

The company sold 2.7 billion shares, or 20.5 percent of its enlarged share capital, in a deal sponsored by UBS(UBSN.VX: Quote, Profile, Research, Stock Buzz), Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and BNP (BNPP.PA: Quote, Profile, Research, Stock Buzz).

Due to the volatile market conditions, some companies have shelved their IPOs in Hong Kong, including Chinese property developer Evergrande Real Estate Group Ltd and Chinese packaging paper maker Wing Fat Printing, which raised a combined about $2.2 billion.

Hong Kong's benchmark Hang Seng Index .HSI has dropped about 19 percent so far this year, after jumping 39 percent last year, amid global financial turmoil.

(US$1=HK$7.8)

(Reporting by Kennix Chim; editing by Ken Wills)