C-Mer Eye Care Shares Double IPO Price During Hong Kong Debut
Dou Shicong
DATE:  Jan 16 2018
/ SOURCE:  Yicai
C-Mer Eye Care Shares Double IPO Price During Hong Kong Debut C-Mer Eye Care Shares Double IPO Price During Hong Kong Debut

(Yicai Global) Jan. 16 -- Shares of clinic operator C-Mer Eye Care Holdings Ltd. [HK:3309] more than doubled from their initial public offering price during their first day of trading in Hong Kong.

Stock in the Shenzhen-based group climbed as high as HKD5.84 (USD0.74) per share from an IPO price of HKD2.9 apiece before finishing yesterday's session at HKD5.11, up 76 percent.

C-Mer Eye Care Holdings said in a previous announcement that it had issued 197 million shares in its IPO, raising HKD521 million. The company said that it would mainly spend the funds on acquiring and setting up facilities and upgrading its medical equipment and information systems.

Hong Kong ophthalmologist Dennis Lam founded C-Mer Eye Care five years ago. The firm secured HKD62.4 million from Advance Data Services Ltd., a fund owned by Tencent Holdings Ltd. founder Pony Ma. Ma's stake in the company has boosted investor confidence in it. Its IPO was oversubscribed by more than 1,500 times.

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Keywords:   C-Mer Eye Hospital