From Businessweek:
“The first yuan-denominated shares to trade outside of mainland China made their debut in Hong Kong Friday in a landmark initial public offering as Beijing seeks to broaden the use of its currency.
Units in Hui Xian Real Estate Investment Trust fell to 5.1 yuan shortly after trading began from the offer price of 5.24 yuan, which was at the bottom end of the proposed issue price range.
The initial public offering raised 10.48 billion yuan ($1.6 billion).
Investor interest in financial products is surging because of the growing strength of the yuan, also known as the renminbi.”
The full report is here.
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