2018年11月13日星期二
 
專家論市
Martin Hennecke

Fusen shares start trading today
 
11/07/2018
 
Shares of Fusen Pharmaceutical Co (1652), a Henan-based producer of medicine for colds, will start trading today on the local market's main board.

The retail tranche of its public offering was oversubscribed 2.58 times.

The net proceeds that it raised from the IPO amounted to HK$374 million.

Fusen Pharmaceutical priced its IPO at HK$2.08 per share, near the bottom of the HK$2 to HK$3 indicative price range. Its share price closed at at HK$2.42 in gray market trading yesterday, 16.35 percent higher than its IPO price.

Shares of Fusen Pharmaceutical Co (1652), a Henan-based producer of medicine for colds, will start trading today on the local market's main board.

The retail tranche of its public offering was oversubscribed 2.58 times.

The net IPO proceeds that it raised amounted to HK$374 million.

Fusen Pharmaceutical priced its IPO at HK$2.08 per share, near the bottom of the HK$2 to HK$3 indicative price range. Its share price closed at HK$2.42 in gray market trading yesterday, 16.35 percent higher than its IPO price.

Fusen Pharmaceutical intends to use the IPO proceeds on expansion, establishment of production facilities and an intelligent warehouse, recruitment of sales representatives and research and development staff. It also intends to some IPO proceeds on merger and acquisition of manufacturers.

One of Fusen's major products, Shuanghuanglian Oral Solutions, accounted for 5.3 percent of the market in revenue terms in 2016.

Meanwhile, Man Shun Group (1746), which will also make its debut today, said the retail tranche of its IPO was oversubscribed 45.39 times.

It priced its IPO at 52 HK cents apiece, close to the bottom of the 50 HK cents to 60 HK cents indicative price range.

In other IPO action, Bank of Jiujiang (6190) had a lackluster debut as its share price closed 1.7 percent lower at HK$10.42, compared with its IPO price of HK$10.60.

In contrast, terminal operator Ocean Line Port Development (8502) performed well in its debut yesterday as its share price closed 9.28 percent higher.

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