Africa's top mobile phone maker Transsion Holdings Hong Kong IPO meets lukewarm response

The Hong Kong public offering of Shenzhen-based Transsion Holdings, sized at HK$336 million (US$428 million), has met a lukewarm response, with preliminary data showing only about 14,000 applications and oversubscription of about 3.5 times, as bookbuilding closed on Monday. Concerns about the sentiment for new listings in the fourth quarter have therefore risen.