C-MER shares rally for third day

Business | 17 Jan 2018 7:02 pm

Shares in C-MER Eye Care Holdings (3309), which went public on Monday, rallied for third day in a row.

The ophthalmic services provider rose as high as HK$9.98 in the afternoon session before retreating to HK$9.73, soared 32.38 percent, or HK$2.38 at Wednesday's close.

Compared with the HK$2.90 initial public offering price, the stock price has more than tripled.

The Hong Kong-based company, which counts Tencent Holdings (0700) chairman Pony Ma Huateng as its cornerstone investor, raised about HK$571 million from its IPO.

C-MER Eye Care, established in 2012 by famous local ophthalmic surgeon, Dennis Lam Shun-chiu, provides treatment and therapy services for ophthalmic diseases, as well as ancillary treatment by way of acupuncture and traditional Chinese medicine.

In 2013, it established the C-MER Dennis Lam Eye Hospital in Shenzhen, becoming the first foreign investor to own an eye hospital in the mainland.

The firm operates businesses both in Hong Kong and mainland.

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