On This DayCafe de Coral, in 1986, becomes first Hong Kong food chain to go public – SCMP archive
On this day 40 years ago, Cafe de Coral became the first Hong Kong restaurant group to list on the city’s stock exchange
This article was first published on July 17, 1986.
Cafe de Coral the live wire in quiet market
by John Mulcahy
Fast-food counter Cafe de Coral hit the boards yesterday (July 16, 1986), trading up to $1.35 and recording the biggest volume of the day.
Although 16.6 million Cafe de Coral shares traded, at a total value of $22.08 million, this was about all the excitement the market could muster, as it took a breather after some hectic activity on Monday and Tuesday.
Another talking point was Yeo Hiap Seng, which ended the day 28 cents firmer at $1.68 after strong buying overnight in London on rumours of a takeover.
The Hang Seng Index ended 0.75 points off at 1,763.38 and the Hongkong Index dipped 1.44 points to 1,100.07, while turnover slipped to $287.56 million from $312.2 million on Tuesday.
In second-wave reaction to the news of Hongkong Land’s decision to sell off Dairy Farm, Land slid 10 cents to $5.95 in active trading, while Jardine Matheson rose 10 cents to $13.60 and Jardine Securities again rose sharply, to $13.50 from $13.10.