HONG KONG — Shares in the maker of the world’s most expensive golf clubs made a below-par debut in Hong Kong, with Honma Golf falling as much as 17% on its first day of trading.Honma, which describes itself as part of "golf’s aristocracy", charges up to ¥7m ($68,000) for a set of its top-of-the-range gold-plated clubs. US presidential candidate Donald Trump is reported to be a fan.The $173m listing is the world’s biggest for a golf club manufacturer, according to Dealogic, and priced towards the higher end of its range at HK$10 a share. On Thursday, however, those shares dropped as low as HK$8.34 in early trade before recovering a bit to HK$9.43, down 6%.The 50-year-old Japan-based company is being listed by Liu Jianguo, a Chinese businessman and golfing enthusiast, and underlines the hopes for the game’s expansion in Asia even as it becomes a byword for "fat cat" business elsewhere.UK Trade Secretary Liam Fox last month accused British exporters of being more into golf than signing...
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