Herbs Generation Raises HK$95 Million in IPO Ahead of Hong Kong Debut

MT Newswires Live2024-12-19

Herbs Generation Group (HKG:2593) raised HK$95.3 million in net proceeds from its Hong Kong initial public offering after pricing the shares at the bottom of the indicative price range.

The health products manufacturer issued 33,333,600 shares at HK$3.75 apiece, the bottom end of its guidance of as high as HK$4.15 each, according to a Wednesday disclosure.

The deal's Hong Kong or public offering portion was 6,083.63 times oversubscribed, leading the firm to allocate over 13 million shares from the international offering for a total of 16,667,200 shares offered under public offering.

The international or placing shares were 1.79 times oversubscribed, and the firm issued 16,666,400 shares.

Herbs Generation secured three cornerstone investors that subscribed for 7,465,600 shares in the IPO.

Herbs Generation will debut on the Hong Kong bourse on Thursday, Dec. 19.

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