By Jiahui Huang Tian Tu Capital shares opened lower on their debut in Hong Kong, failing to provide an initial pop as investor sentiment remained cautious in an uncertain market. Shares of the Chinese private-equity investor and fund manager slid as much as 17% to 5.39 Hong Kong dollars a share on Friday. Shares were last at HK$6.50.
Tian Tu Capital had raised HK$1.13 billion (US$144.3 million) in an initial public offering after pricing shares at HK$6.50 each. The shares were priced closer to the bottom end of an earlier guided range of between HK$5.80 and HK$11.40. The private-equity firm had cumulatively invested in 222 portfolio companies, including 180 companies in consumer sectors covering food & beverage, clothing and healthcare, as of the end of March, according to the company’s prospectus. Tian Tu Capital is also invested in biotech and technology companies. Some of Tian Tu Capital’s early and late-stage investments include food & beverage companies like Zhou Hei Ya, China Feihe and Nayuki Holdings. Write to Jiahui Huang at [email protected]