Published: 9:00pm, 31 Jul, 2018 Updated: 11:50pm, 31 Jul, 2018
The HKD3.4bn ( $ 433.2 m ) tranche of shares in China Tower 's Hong Kong IPO that were made available to retail investors was only just oversubscribed , according to analysts . The share amounted to 5 % of the HKD68bn the mobile phone operator business was seeking to raise . The weak demand has been attributed to concerns over tariffs , a fall in the yuan and rising market volatility . The Hang Seng Index has fallen nearly 10 % since June , while the yuan has fallen 6 % against the dollar . Retail ##ed ##up IPOs by an average of 1,191 times in April , falling to 154 times in June .