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Big Biogene Holding Co.’s inventory zoomed greater in its Hong Kong market debut, after the Chinese language skincare firm raised 549.4 million Hong Kong {dollars} (US$70.0 million) in an preliminary public providing.
Xi’an, China-based Big Biogene’s shares rose 15% to HK$27.95 on Friday morning, in contrast with its provide worth of HK$24.30 a share, amid upbeat market sentiment. Town’s benchmark Cling Seng Index was up 4.0%.
The corporate mentioned it will use the providing proceeds to strengthen its gross sales and distribution community, increase manufacturing capability and increase analysis and improvement.
Big Biogene posted income of 1.55 billion yuan (US$212.3 million) in 2021, up from CNY1.19 billion in 2020. Web revenue over the identical interval edged as much as CNY828.1 million from CNY826.5 million.
The providing was collectively sponsored by Goldman Sachs and China Worldwide Capital Corp.
