Local retail chain Lung Fung kicks off HK IPO

Hong Kong retail chain Lung Fung kicked off bookbuilding of its initial public offering on Thursday, aiming to raise up to HK$797.5 million,

The company plans to sell 125 million shares, with an offer price ranging from HK$5.18 to HK$6.38.

It requires a minimum investment of HK$ 3,222.17 per broad lot of 500 shares.

Lung Fung is expected to debut on June 5.

Notably, there is no cornerstone investor for the IPO.

The local retail chain of beauty, health, and pharmaceutical products operates 32 stores in Hong Kong, with a total gross floor area of more than 123,000 square feet.

Lung Fung said it plans to open 18 to 21 new outlets before the end of March in 2029.

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