Hong Kong IPO: actor Roger Kwok’s Herbs Generation ends up 10% on debut
The healthcare company’s shares were oversubscribed 6,083 times after they were priced at the low end of the range at HK$3.75
Retail investors jumped at the chance to invest in Hong Kong actor Roger Kwok’s company, with the initial public offering (IPO) oversubscribed more than 6,000 times, the second-highest on record in the city.
Herbs Generation Group, the healthcare products company co-founded by Kwok and his sister, priced its shares at the low end of its range at HK$3.75, resulting in the retail tranche being oversubscribed 6,083 times. The international portion was oversubscribed 0.8 times.
Most Kwai Chung, which launched its HK$95.3 million IPO (US$12.3 million) in 2018, holds the oversubscription record in Hong Kong at 6,288 times.
Herbs Generation’s shares jumped as much as 35 per cent on their trading debut on Thursday, eventually closing 10 per cent higher at HK$4.14. The broader Hang Seng Index fell 0.6 per cent.