Mao Geping’s shares skyrocketed by 85% after their initial listing on the Hong Kong Stock Exchange. Raising approximately US$300 million through this IPO, the company achieved the city’s most successful flotation in the last four years.
Impressive Opening Day Stats
In a report by Reuters, the shares began trading at HK$47.65, climbing quickly to HK$55.25 by mid-afternoon.
Reasons Behind the Success
Ben Cavender, Managing Director of the China Market Research Group, explained to Reuters, “Mao Geping stands out as a leading domestic brand in the premium segment, setting it apart from numerous other Chinese beauty brands that prioritize value but lack in strong brand recognition.”