Seres Falls in HK Debut After Carmaker’s $1.8 Billion Listing

Seres Group Co., maker of China’s best-selling luxury vehicle, fell on its Hong Kong trading debut after raising HK$14.3 billion ($1.8 billion) during its public offering and adding to the city’s banner year for new listings.

The electric vehicle partner of Huawei Technologies Co. declined 2% to HK$128.90 a share on Wednesday amid a down day globally for stocks. During the listing, the stock was priced at the high end of the marketed range. But at HK$131.50 each, it’s a 22% discount to Seres’ last close in Shanghai.

For Seres, which was once known for making cheap minivans, ...