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Overseas unit of Chinas state-owned cigarette monopoly lights up after lacklustre trading debut as market sentiments turn stale Shares of China Tobacco International changed hands for the first time in Hong Kong at HK$4.97, a 1.8 per cent premium to its IPO price of HK$4.88 The stock rose to an intraday high of 20.7 per cent amid a declining market, before ending the day up 9.7 per cent China Tobacco International, the overseas subsidiary of Chinas state-owned tobacco monopoly and the worlds largest cigarette maker, picked up pace after a lacklustre trading debut in Hong Kong on Wednesday, as the companys initial public offering proved extremely popular with retail investors

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