Cofoe Medical Technology rose 2.21 percent in gray market before HK debut

Cofoe Medical Technology, a leading Chinese manufacturer and provider of home-use medical devices, rose 2.21 percent in the gray market ahead of its Hong Kong debut on Tuesday.

Its shares closed at HK$40 on Futu Securities' over-the-counter platform, up by 2.21 percent from the HK$39.33 offer price. That translates to a paper gain of HK$587 in each board lot of 100 shares. 

The company's retail tranche was reportedly oversubscribed 308 times, drawing 32.7 billion in margin loans. It plans to offer 27 million H shares, raising HK$1.06 billion.
 

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