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A-Living Services'' Shares Fall In Hong Kong Gray Market Debut:

HONG KONG (Feb 08) -- Shares of A-Living Services fell at gray market venues in Hong Kong on Thursday ahead of their debut on the city''s main board after the property management services provider raised HK$4.1 billion ($524.5 million) gross proceeds in an initial public offering.

The shares closed 11.5% lower at HK$10.88 at a pre-initial public offering trading platform run by Phillip Securities, compared with its IPO price of HK$12.30 apiece. It had fallen as low as HK$10.76 during the session. On a platform operated by Bright Smart Securities, A-Living''s shares fell 11.7% to HK$10.86. About 4.04 million shares changed hands at the Phillip Securities venue, compared with 1.7 million shares on Bright Smart''s platform.

The company plans to use proceeds from the offering for investment and acquisitions, developing its service platform and meeting working capital needs.