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Shares of investment bank China Renaissance slip in early hours of debutChina Renaissance's initial public offering came hot on the heels of high-profile listings on Hong Kong's stock exchange by Chinese hotpot chain Haidilao and tech heavyweight Meituan Dianping.
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Chinese investment bank sells itself poorly in IPOChina Renaissance fell 20 pct on its Hong Kong trading debut, valuing the tech advisor at less than half its original $5 bln target. A shaky outlook is partly to blame, but Renaissance also overpriced itself. For an investment bank, such a fumble is hard to explain to clients.
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