BRIEF: Mao Geping surges in Hong Kong trading debut
Shares of cosmetics seller Mao Geping Cosmetics Co. Ltd. (1318.HK) surged in their Hong Kong trading debut on Tuesday, opening nearly 60% above their IPO price of HK$29.80. The stock continued to climb during the day and was up nearly 80% at HK$53.30 midway through the afternoon session.
Local appetite for the listing was very strong, with shares reserved for Hong Kong investors oversubscribed by 918 times. The international placement was also oversubscribed by 29 times.
Mao Geping sold approximately 70.59 million shares in the listing, 10% of which were went to local investors in Hong Kong. The company priced the shares at the upper end of their range, raising HK$2.33 billion ($300 million) in gross proceeds.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Mao Geping’s Hong Kong IPO gets lift from regulatory nod
- Mao Geping dolls up for Hong Kong IPO
-
BRIEF: Midea stock rises in Hong Kong trading debut
0300.HK 000333.SHE
-
FAST NEWS: Zhonggan Communication plummets in Hong Kong trading debut
2545.HK
-
Hong Kong typhoon trading halts sail into the sunset
0388.HK
-
FAST NEWS: Laopu Gold surges on trading debut
6181.HK
- Cash-strapped Qiniu charges to market to seize on Hong Kong rally
