Huishang Bank Corp made a flat debut in Hong Kong. According to a Reuters report, the bank's debut highlighted the lukewarm appetite investors had for the banking sector in China. This was the case even if more listings were in the pipeline.

Huishang was able to raise USD 1.2 billion for its IPO. Although it was the city's largest bank IPO to be held in three years, the pricing for the shares was close to the bottom of its price range. During morning trading, Reuters reported that shares of Huishang Bank were trading at the same HKD 3.53 price per share as its IPO price. It reached a high of HKD 3.58 per share. The marketing range for the shares was from HKD 3.47 to HKD 3.88.

Reuters added that the Bank of Chongqing was also changing hands below its IPO priced. The Bank of Chongqing also went public last week.

Some industry observers believed that Huishang was a better investment. According to Tanrich Securities Vice President for Equity Sales Jackson Wong, Huishang was the better bet. He said, "It's fairly valued and is a better buy compared to recently listed Bank of Chongqing, which counts local governments as its key clients. Huishang is less risky because its business is more retail-driven and it's one of the more recognizable banks in the central parts of China."

Other Chinese lenders would be monitoring the performance of Huishang as they plan their debuts. This included China Cinda Asset Management Co Ltd which had started to evaluate investor interest for its USD 2 billion IPO. Reuters reported that the offer would be priced in next month.

China Everbright Bank, China Guangfa Bank and Bank of Beijing would also be looking at the debut of Huishang ahead of their planned IPOs.