Three firms set for debut today

Business | Tracy Hu 4 Jan 2018

Three companies will debut today, including a circular knitting machines maker whose public offering was oversubscribed 114 times.

Vobile Group, an online video content protection services provider, yesterday said it raised HK$143.5 million from its initial public offering. It closed at HK$3.18 in yesterday's gray market trading, a 23.26 percent gain from its offer price of HK$2.58 per share.

Sanbase Corp, an interior fit-out solutions provider, closed in the gray market at HK$1.60, up 2.56 percent from its offer price of HK$1.56 per share.

It raised HK$56.9 million net from its public offering.

China Futex Holdings, which makes circular knitting machines, saw the retail tranche of its IPO oversubscribed 114 times. It raised net proceeds of HK$40.9 million from its IPO. However, its share price closed 4.55 percent lower than its offer price of 22 HK cents per share in the gray market.

Meanwhile, CMer Eye, an ophthalmic company, is fast emerging as a "hot IPO."

Edmond Hui Yik-bun, chief executive of Bright Smart Securities(1428), said yesterday investors booked margin financing worth HK$4 billion for use in subscribing to CMer Eye shares.

Strong demand for its shares came after Tencent chairman Pony Ma and Esprit ex-chairman Michael Ying Lee-yuen invested in its IPO which opened last week.

Thing On Enterprise, which opened retail book on December 28, said 90 percent of its IPO proceeds will be used to invest in properties. Choon Bin Chuah, chief executive of Malaysia's Pentamaster Corp, said yesterday the company will expand its business after its listing in Hong Kong and go into telecommunications and the medical sector. Its shares will start trading on January 19.

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