BRIEF: Butong shares jump in Hong Kong trading debut
Shares of premium nursery products maker Butong Group (6090.HK) rose 44% in their Hong Kong trading debut on Tuesday, in an IPO that was heavily oversubscribed by retail investors and raised nearly $100 million.
Butong, known for its BeBeBus brand, sold about 11 million shares for HK$71.20 apiece, raising net proceeds of HK$718 million ($92 million), according to its latest public filing. The stock was up throughout its first trading day and closed at HK$102.50.
The local portion of the listing for Hong Kong investors was more than 3,000 times oversubscribed, while the international portion was more than six times oversubscribed.
The company’s revenue rose 25% year-on-year to 726 million yuan ($102 million) in the first half of 2025 from 582 million yuan in the year-ago period, as its gross margin fell to 49.3% from 50.2% over that time, according to its latest listing document. Its profit rose 72% to 48.5 million yuan from 28.2 million yuan over that time.
By Doug Young
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