SF Holding Ltd., a major Chinese express-delivery company, is scheduled to start trading in Hong Kong on Wednesday after a successful initial public offering (IPO) that raised HK$5.83 billion (approximately $749 million).
In gray-market trading on Tuesday, SF Holding's shares initially rose by as much as 5.5% from the issue price of HK$34.30 before later retracting those gains.
The IPO is considered a significant test for Hong Kong's market, which has struggled to attract major listings throughout the year.