Chinese traditional medicine firm Neautus ends 72 percent higher in Hong Kong debut

Shares of Sichuan Neautus Traditional Chinese Medicine (2206) closed 71.6 percent higher in their Hong Kong market debut on Wednesday after the company raised HK$262 million in an initial public offering.

• The shares of the Chinese traditional medicine manufacturer opened at HK$51.3, up 27.6 percent from their HK$40.20 offer price, and hit a high of HK$88.1
• They closed at HK$69.00, while the Hang Seng Index closed 0.98 percent lower
• Neautus sold 6.52 million shares at the bottom of the HK$40.20 to HK$50.55 price range
• The retail portion was 2,190.99 times subscribed, while the international offering was 1.25 times subscribed
• The company said it plans to expand and automate production, develop wellness products, widen sales in China, Vietnam and Malaysia, and fund working capital

Reuters

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