Busy Ming Group Shares Surge 69 Percent in Record Breaking Hong Kong Market Debut
Busy Ming Group raised HK$3.67 billion in a Hong Kong IPO and saw its shares jump 69 percent on debut. The retailer reached a market cap of HK$86.2 billion.
Insights:
Busy Ming Group successfully completed an initial public offering in Hong Kong 
HKon Wednesday, raising HK$3.67 billion. The company’s shares experienced an exceptional trading debut, surging 69 percent to close at HK$400 per share. This performance gave the snack and beverage retailer a market capitalisation of approximately HK$86.2 billion by the end of its first day on the bourse.
HKon Wednesday, raising HK$3.67 billion. The company’s shares experienced an exceptional trading debut, surging 69 percent to close at HK$400 per share. This performance gave the snack and beverage retailer a market capitalisation of approximately HK$86.2 billion by the end of its first day on the bourse.The offering saw massive investor interest, with the company selling 15.5 million shares at the top end of its marketed range, an increase from the initial 14.1 million shares offered. According to the prospectus, the retail portion of the sale was nearly 1,900 times oversubscribed, while the institutional tranche recorded an oversubscription ratio of 44.44 times. Shares opened the session at HK$445, representing an 88.1 percent jump from the offer price of HK$236.60.
