Shares of Fu Shou Yuan International Group Ltd, China's largest provider of funeral services, soared as much as 66 percent in their Hong Kong trading debut on Thursday, leading a pack of first-day trading gains in the city.Shares in Fu Shou Yuan, in which private equity firm Carlyle Group LP and hedge fund firm Farallon Investors took a minority stake, jumped to HK$5.30 compared with an IPO price of HK$3.33, according to Hong Kong stock exchange data.Carlyle, whose co-founder William Conway visited Fu Shou Yuan's main cemetery in Shanghai with a group of eight executives in December 2010, agreed to purchase $25 million worth of shares, giving the company a $16.5 million paper profit on its week-old investment.San Francisco-based Farallon bought another $10 million worth of Fu Shou Yuan shares, according to the IPO prospectus.
Shares of CG traded higher by 2.06% or $0.71/share to $35.24. In the past year, the shares have traded as low as $23.85 and as high as $37.89. On average, 498494 shares of CG exchange hands on a given day and today's volume is recorded at 507570.
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