China's New Focus rises 1 pct in pre-market debut

Newswire

HONG KONG, Feb 28 (Reuters) - Shares of New Focus Auto Tech Holdings Ltd. , a small Shanghai-based auto parts manufacturer, were indicated at HK$0.95 in pre-open trade, up 1 percent from their IPO price ahead of their debut. The firm priced its 100 million shares at HK$0.94 apiece, or the top of an indicated range of HK$0.70-$0.94, after the deal was 2 times covered for the institutional tranche and 15.15 times covered for the public portion.

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