The three newly listed shares - Lifestyle International Holdings, AMS Public Transport Holdings and Shandong Molong Petroleum Machinery - bucked the market's downward trend yesterday to finish higher on their debut.
AMS, the green minibus operator, climbed 1.86 per cent to $1.09 from its initial public offering price of $1.07.
Growth Enterprise Market-listed Shandong Molong gained 4.28 per cent to 73 cents from the offer price of 70 cents.
Lifestyle, which operates the Sogo department store in Causeway Bay, reached an intraday high of $8.50 in early trade before closing flat at $8.30.
Brokers attributed the positive debuts to the sponsors' strong stabilisation efforts.
'Most of the buying for the three was from the sponsors while the retail investors, taking the advantage, sold their holdings,' one broker said.
He noted BNP Paribas Peregrine, the sponsor for Lifestyle, had been aggressively placing bids for Lifestyle shares at $8.35 in early and late trade yesterday while AMS sponsor Kingsway Capital was seen bidding for AMS shares in a range between $1 and $1.08.
