BRIEF: Bayzed Health jumps in Hong Kong trading debut
Shares of cancer hospital operator Bayzed Health Group Inc. (2609.HK) jumped in their Hong Kong trading debut on Monday, as the company raised HK$562 million ($72 million) in an IPO that received a lukewarm reception from investors.
Bayzed priced its shares at HK$4.22, representing the bottom of its previously announced range. The local portion of the listing was 25 times oversubscribed, but the international portion was only 0.98 times subscribed. The stock opened up 24% at HK$5.25 and was trading at HK$5.30 in the afternoon session, giving Bayzed a market value of about HK$7 billion.
Bayzed operates six self-owned hospitals around China engaged in the detection and treatment of cancer. The company reported 1.19 billion yuan ($166 million) in revenue last year, up 11% from 1.07 billion yuan in 2023. Its loss for 2024 narrowed to 13.5 million yuan from a 24.6 million yuan loss the previous year.
By Doug Young
To subscribe to Bamboo Works free weekly newsletter, click here
