Linklogis set to open 9.9% higher in Hong Kong IPO debut

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HONG KONG — Shares in Chinese fintech firm Linklogis Inc will open 9.9% higher at HK$19.32 ($2.48) each in its Hong Kong Stock Exchange debut Friday after raising $1.02 billion, data from the exchange showed.

The Tencent-backed company priced its stock at $HK17.58 in the deal to sell 452.87 million shares. ($1 = 7.7780 Hong Kong dollars) (Reporting by Donny Kwok and Scott Murdoch; Editing by Christian Schmollinger)