Chinese fintech AMTD Digital triples since last week's IPO

AMTD Digital

18/07/2022 18:27

** AMTD Digital Inc's  HKD.N  shares jump 50.6% to $24.42 on
Mon, and are now up 213% from IPO price
    ** HKD shares closed at $16.21 in debut on Fri after co sold
16 mln ADSs at $7.80, within $6.80-$8.20 filed range
 urn:newsml:reuters.com:*:nBw7ptFwNa
    ** Hong Kong-based co spun out of NYSE-listed AMTD Idea
Group  AMTD.N , which remains controlling shareholder with ~99%
voting power, per the prospectus filing https://www.sec.gov/Archives/edgar/data/1809691/000119312522194790/d943653d424b4.htm#rom943653_19
    ** HKD generates revenue primarily from fees and commissions
from its digital financial services and SpiderNet ecosystem
solutions businesses
    ** For 10 months ended in Feb 2022, co reported rev of
HK$168 mln (US$21.5 mln), up from HK$162.4 mln in comparable
prior period; it posted net profit of HK$186.8 mln (US$23.9 mln)
in same time frame, a 65% increase from yr-ago period

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))