China's skin treatment firm Giant Biogene shines in Hong Kong debut

Giant Biogene Holding

04/11/2022 03:09

** Shares of China's Giant Biogene Holding Co Ltd  2367.HK 
trade as high as HK$31.10 in Hong Kong debut on Friday, up 28%
from the offering price of HK$24.30 apiece and tracking strength
of the boarder market  .HSI  
    ** Stock last trade HK$28.5 per share, still up 17.3% from
the offering price 
    ** If Giant Biogene's shares hold their gains, it will be
one of few Hong Kong IPOs to register gains on debut day in 2022
    ** More than 80% of IPOs in Hong Kong this year are trading
under water since their debut, according to Dealogic data
    ** The Xian-based skin treatment company sold 22.6 mln
shares in IPO, raising HK$549.2 mln ($70 mln) for investing in
R&D, expanding manufacturing capacity, and enhancing
distribution network  urn:newsml:reuters.com:*:nFWN31Y7V6
    ** Hang Seng Commerce & Industry Index  .HSNC  jumps 5.8%
and healthcare index  .HSCIH  rises 3.7%
    ** Hang Seng Composite Index  .HSCI  surges 4.3% and Hang
Seng Index  .HSI  up 4.4%
($1 = 7.8498 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))