Shares of C-Link Squared (1463), an outsourced document management services provider, surged by over 40 percent in the gray market before its first trading day today.
The Malaysia-based firm has raised HK$75.8 million after pricing its initial public offering at HK$0.63, the bottom of the indicated price range. The retail portion of the deal was oversubscribed by 10.15 times. It traded at HK$0.9 in the Philip Securities gray market last night, 42.85 percent higher than the IPO price.
Meanwhile, Tycoon Group, a Chinese maker of medicines and health supplements that recently added surgical masks and other "anti-epidemic" products to its portfolio launched a Hong Kong IPO yesterday, seeking to raise about HK$400 million, according to Soochow Securities, one of the global coordinators on the deal.
And MOG Holdings, a Malaysia-based optical products retailer, said it will to open its retail book on Monday.
In other news, Shanghai was the top global IPO market by proceeds in the first quarter thanks to Beijing-Shanghai High Speed Railway's mega IPO, with US$9.8 billion (HK$76.44 billion) raised, six times more than Hong Kong, according to EY.
Hong Kong was number one in terms of first-quarter deals, with IPO numbers up 6 percent to 38 from a year ago, while proceeds declined by 32 percent to US$1.8 billion.
Group financial officer Lam Yin-yam launched C-Link’s IPO with chief technical officer Ling Sheng Chung, left, and chairman and CEO Ling Sheng Hwang in virtual attendance. Sing Tao
