China's BingEx jumps after tepid start in Nasdaq debut
** China's BingEx's FLX.O was last trading 15% higher, shrugging off a sluggish start to its Nasdaq debut
** FLX, which brands its courier delivery services as FlashEx, sold 4 mln American depositary shares (ADS) in its U.S. IPO, priced at $16.50 each, to raise $66 mln
** Stock opened for trading flat at $16.50 per ADS, before rising as high as $21.95
** FLX is the first big China-based co to successfully list in the U.S., since EV maker Zeekr ZK.N debuted on the NYSE in May
** IPO bodes well for the broader market, which had been depressed for almost two years due to higher-for-longer interest rates and turmoil in the stock markets
** Analysts expect appetite for riskier investments will continue to improve, boosting the IPO market meaningfully in 2025
** Deutsche Bank Securities, CICC and CLSA are the lead underwriters of BingEx's offering
** Meanwhile, Republican Party's top bank, Chain Bridge CBNA.N, drops 2% at the open in its NYSE debut; CBNA, which pulled off a relatively rare IPO from the banking industry, last down 3.5%
Reporting by Manya Saini in Bengaluru
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