Brief News: Industrial robot manufacturer ESTUN fell over 13% in the first half of its debut

Industrial robot manufacturer Nanjing ESTUN Automation Co., Ltd. was listed on the Hong Kong Stock Exchange on Monday, opening flat and reporting HKD 13.22 at noon, down 13.93% from the issue price. The company plans to globally offer 96.78 million shares at an offer price of HKD 15.36, raising a net amount of HKD 1.412 billion (USD 180 million). The Hong Kong public offering was oversubscribed by 18.67 times, while the international offering recorded an oversubscription of 2.34 times. It is expected to achieve a net profit of between 35 million and 50 million yuan last year, and plans to use the raised funds for capacity expansion, technology research and development, and market expansion