HK Movers | Biopharma Company Vigonvita Soars 134% in Hong Kong's Grey Market Trading

Tiger Newspress
11/05

Biopharmaceutical company Vigonvita Life Sciences soared 134% in Hong Kong’s grey market trading.

Vigonvita Life Sciences develops biomedicine. The Company produces and sells innovative small molecule drugs, anti-viral drugs, and other products. Vigonvita Life Sciences markets its products primarily throughout China with limited overseas.

Vigonvita reportedly oversubscribed by 4,974 times through margin financing, and priced near the upper limit at HKD33.37 per share.

With a target issuance of 17.598 million shares, it is expected to raise HKD587 million. This round of IPO does not involve a clawback regime. The stock is anticipated to officially list tomorrow (6th).

Retail investors shared images on social media, indicating that even after splashing HKD30.214 million for maximum subscription of 879,800 shares, they still failed to secure a lot of 200 shares, marking the 9th instance under the new clawback regime.

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