C-MER shares rally for third dayBusiness | 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.