Shares of detergent maker Blue Moon set to open up 16.4% in Hong Kong debut

Blue Moon group

16/12/2020 01:20

HONG KONG, Dec 16 (Reuters) - Shares of detergent maker Blue
Moon Group Holdings  6993.HK  set to open at HK$15.32 per share,
up 16.4% from their IPO price when the stock debuts in Hong Kong
on Wednesday.
    The Chinese detergent maker priced its shares at HK$13.16
each as it raised $1.27 billion during the IPO last week for
building up its sales and distribution networks while expanding 
production capacity.
    Half of the shares in the deal were sold to retail
shareholders after the transaction was 301 times oversubscribed
by those investors, the company's filings showed.

 (Reporting by  Scott Murdoch and Donny Kwok; Editing by Shri
Navaratnam)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))