China’s Chinalco Mining Corporation fell more than 11 per cent on its Hong Kong trading debut on Thursday after raising US$ 397 million in the city’s first major initial public offering of the year.

Chinalco, a unit of Aluminum Corporation of China, the mainland’s largest aluminium producer by output, opened at HK$ 1.55 (US$ 0.20), from an offering price of HK$ 1.75. It later rose but remained below its listing price.

The benchmark Hang Seng Index opened 0.10 per cent lower.