shares of onewo inc opened lower on debut in hong kong failing to give an initial pop as investor sentiment remained cautious in an uncertain market the property services providers shares opened 76 lower at 4560 hong kong dollars us581 a share on thursday the stock was recently down 71 at hk4585 onewo majorityowned by developer china vanke co had raised hk56 billion in net proceeds in the initial public offering after pricing its shares at hk4925 each global ipo volumes have been tepid this year as rising interest rates and inflation have soured investor appetite for new offerings in hong kong new and secondary listings have raised 75 billion so far this year down 79 from the same period a year earlier according to dealogic data last week onewo had priced its ipo at the midpoint of the price range of hk4710 to hk5270 giving it a valuation of us734 billion onewo offers community services such as home sales rental brokerage home decoration and furnishing services for property owners and residents it also provides property and facility management services for developers governments and other institutional clients the company intends to use the ipo proceeds to expand its business in first and secondtier cities and for acquisitions citic securities citigroup and goldman sachs were joint sponsors on the deal