BRIEF: Green Economy invests $1.48 million in Bayed Health Group IPO
Building maintenance services company Green Economy Development Ltd. (1315.HK) said on Wednesday it will invest HK$11.6 million ($1.48 million) in shares of Bayzed Health Group Inc. (2609.HK) during the biotech company’s IPO.
Green Economy characterized Bayzed Health’s business outlook as promising, calling its own investment a sound financial move aligned with corporate strategy that could generate returns for its shareholders.
Specializing in comprehensive oncology care, Bayzed Health set a price range of HK$4.22 and HK$6.75 for its IPO shares. The shares will price on Thursday, ahead of the stock’s trading debut next Monday.
Shares of Green Economy opened flat at HK$0.138 on Thursday. The stock is down 23% from its 52-week high.
By Lau Chi Hang
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