Bayzed Health (HKG:2609), an oncology-focused healthcare services provider, saw its stock price soar by 22.99% as it made its trading debut on the Hong Kong Stock Exchange on Monday. The dramatic rise comes after the company successfully raised HK$467.8 million in net proceeds from its initial public offering (IPO).
The company priced its IPO at HK$4.22 per share, the lower end of its indicative price range, which extended up to HK$6.75. Despite the conservative pricing, investor enthusiasm was evident in the public offering portion of the IPO, which was oversubscribed by 25.92 times. This strong demand led to a reallocation of shares from the international offering to the public offering.
Bayzed Health offered a total of 133,105,800 shares in its IPO, with the public offering component ultimately comprising 16,238,400 shares following the reallocation. The international offering, which was 0.98 times subscribed, saw its allocation reduced to 116,867,400 shares. The robust investor interest and successful capital raise appear to have set a positive tone for Bayzed Health's market debut, driving the significant price increase as trading commenced.
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