Beijing Tong Ren Tang Healthcare Investment Co., Ltd. (02667.HK): Grey Market Plunges 14.18%, Faces Risk of IPO Breakdown Ahead of Official Listing Tomorrow
NewTimeSpace News: Beijing Tong Ren Tang Healthcare Investment Co., Ltd. (02667.HK) traded sharply below its IPO offer price in today’s grey market. As of press time, the stock stood at HK$4.72, representing a 14.18% drop against the final offer price of HK$5.50. The company will commence formal trading tomorrow (7 July), with an initial indicative offer price range of HK$5.48 to HK$6.21.
NewTimeSpace News: Beijing Tong Ren Tang Healthcare Investment Co., Ltd. (02667.HK), set to be listed on the Hong Kong Stock Exchange tomorrow (7 July), suffered a steep slump in today’s grey market with its share price opening and declining throughout the session, drawing widespread market attention.
As of press time, the grey market price of the stock was HK$4.72, down HK$0.78 or 14.18% from the final offer price of HK$5.50.
According to the prospectus, the IPO subscription period ran from 26 June to 2 July. The original indicative offer price range was HK$5.48 to HK$6.21, and the final offer price was fixed at HK$5.50, close to the lower bound of the range. The Group globally offered 108.15 million shares, including 10.81 million shares for Hong Kong public offering. Each trading board lot consists of 500 shares, with an entry cost of approximately HK$3,136.31. The total gross proceeds raised amount to roughly HK$562.4 million.
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