C-MER Eye Care Holdings, which is chaired by local ophthalmic surgeon Dennis Lam Shun-chiu, attracted 126,000 subscribers, and investors need to spend HK$1.74 million to secure one board lot.
They need to buy 600,000 shares of C-MER Eye Care to get one board lot, which is even harder than getting shares of China Literature (0772) last year.
China Literature was oversubscribed more than 600 times and sucked in about HK$520 billion worth of investments. People had to buy 100 board lots of its shares, or spend HK$1.1 million, to finally get one board lot of shares.
C-MER Eye Care, which counts Tencent Holdings (0700) chairman Pony Ma Huateng as its cornerstone investor, saw its retail tranche lure a massive oversubscription of about 1,557 times.
The company offered 197 million shares at HK$2.35 to HK$2.9 a share and aims to raise up to HK$571 million from the IPO. The minimum investment is HK$5,858 for a board lot of 2,000 shares. It will make its debut on January 15 on the main board.
In contrast, several companies which opened retail books recently did not record good results.
Pentamaster International's retail tranche reportedly was slightly oversubscribed, while listing candidates Bank of Gansu and Atlinks Group's shares were undersubscribed. Pentamaster International issued a total of 368 million shares at an indicative price range of 90 HK cents to HK$1.1. The minimum investment is HK$4,444 for one board lot of 4,000 shares. Trading will start on January 19.
The Chinese government is considering allowing some top companies in the Belt and Road initiative to raise capital by yuan-denominated IPO in Hong Kong, according to media reports. However, there is no specific timeline or details yet.