New Horizon Health shares surge 200% in Hong Kong debut

New Horizon Health

18/02/2021 03:29

HONG KONG, Feb 18 (Reuters) - Hong Kong investors show no
signs of easing up on a rampant appetite for initial public
offerings (IPOs), with shares of New Horizon Health  6606.HK 
rising by up to 200% on its first day of trading on Thursday.
    The shares, which rose to as high as HK$80 in the debut
session on the Hong Kong stock exchange, were issued at HK$26.66
 ($3.44), helping the Chinese biotech firm raise $263 million. 
    The deal was hotly pursued by investors, with the retail
portion oversubscribed 4,133 times after the company received
1.06 million subscriptions, filings showed.
    New Horizon's share price surge maintains the recent run of
first trading day pops, after stock of Kuaishou Technology
 1024.HK  more than doubled when it debuted on Feb. 5.


($1 = 7.7524 Hong Kong dollars)

 (Reporting by Scott Murdoch in Hong Kong; Editing by Krishna
Chandra Eluri)
 ((Scott.Murdoch@thomsonreuters.com;))