Stock Track | TONGRENTANGCARE Plummets 18.18% on Trading Debut as Shares Fall Below IPO Price

Stock Track07-07

TONGRENTANGCARE (02667) shares plummeted 18.18% intraday on Tuesday as the stock made its market debut.

The sharp decline came as the traditional Chinese medicine healthcare services provider began trading below its initial public offering price of HK$5.50 per share. The company raised approximately HK$532.4 million from its Hong Kong IPO, with the final offer price set toward the lower end of its price range.

TONGRENTANGCARE is a strategic Traditional Chinese Medicine healthcare services group under Beijing Tong Ren Tang Co., Ltd., providing comprehensive TCM medical services to individual clients and standardized management services to institutional clients. According to industry reports, the company is the largest TCM hospital group in China's non-public TCM hospital services sector based on projected total outpatient and inpatient visits for 2025.

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