Key Takeaways:
- Lung Fung Group offers 125m shares at HKD5.18-HKD6.38 apiece
- Public offering opens May 28, listing on June 5
- Net proceeds estimated at HKD607m at mid-point pricing
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Lung Fung Group seeks up to HKD798m in Hong Kong Main Board IPO
Local pharmacy chain Lung Fung Group (02290.HK) plans to raise as much as HKD798m in its Hong Kong Main Board IPO, the company said.
The company will offer 125 million shares globally, allocating 10 percent to the Hong Kong public offering and 90 percent to the international placement. The offer price ranges from HKD5.18 to HKD6.38 per share, with a board lot of 500 shares requiring an entry fee of HKD3,222.17.
Based on the mid-point offer price of HKD5.78, net proceeds from the listing are estimated at approximately HKD607m. The public offering opens tomorrow (May 28) and closes at noon on June 2, with shares expected to begin trading on the Main Board next Friday (June 5).
The IPO proceeds will fund the pharmacy chain's expansion as it seeks to grow its footprint in Hong Kong's retail healthcare market. First-day trading on June 5 will test institutional demand for the stock.
This article is for informational purposes only and does not constitute investment advice.
