Lung Fung Group Raises HK$600 Million in Hong Kong IPO Ahead of Debut

MT Newswires Live06:11

Lung Fung Group (HKG:2290) raised HK$599.6 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$5.18 per share, the bottom of the offer price range, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The Hong Kong-based beauty, health, and pharmaceutical products retailer offered 125 million shares in the global offering.

The Hong Kong public offer was 664.92 times subscribed, with a final allocation of 12.5 million shares, representing 10% of the total offering.

The international offering was 3.18 times subscribed, with a final allocation of 112.5 million shares, or 90% of the total offering.

Lung Fung Group is scheduled to debut on the Hong Kong bourse on Friday, June 5.

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