Stock Track | LEMO SERVICES Soars 80.75% in Intraday Trading on Strong IPO Demand and Market Leadership

Stock Track12-03 09:33

LEMO SERVICES (02539.HK) surged 80.75% in intraday trading on Wednesday, following its highly anticipated market debut. The stock opened at HK$64.8, significantly above its final offer price of HK$40 per share, reflecting robust investor interest.

The company's initial public offering (IPO) was oversubscribed by 7,324.29 times in the Hong Kong public offer, raising HK$182.2 million in net proceeds. LEMO SERVICES, a leading provider of machine-based massage services in China, holds a dominant market share of over 50% in revenue and operates more than 533,000 massage machines across 337 cities.

Investors are bullish on LEMO SERVICES due to its strong market position and growth potential in China's expanding massage services sector. The company's brand, "LEMO Bar," is widely recognized in high-traffic locations such as commercial complexes and transportation hubs.

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