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Asia
Star Sports Medicine Soars 192% in Hong Kong Trading Debut
Star Sports Medicine's (HKG:1609) shares opened 192.4% above their initial public offering price in a stellar Hong Kong debut Tuesday morning.The China-based medical device company opened at HK$288 per share, well above the offer price of HK$98.50.
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Asia
Impact Therapeutics Launches Up to HK$913 Million Hong Kong IPO
Impact Therapeutics (HKG:7630) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to about HK$913 million from the deal.The China-based biotechnology company is offering 42 million shares at an indicative maximum price of HK$21.75 per share, according to a Hong Kong bourse filing.The offering comprises 4.2 million shares for Hong Kong investors and 37.8 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by May 11, with allocation results due by May 12, ahead of the company's planned trading debut on May 13.Net proceeds will be used mainly to fund the clinical development, regulatory approval, and commercialization of its core product, senaparib, as well as support the development of key pipeline products.The funds will also be used for research and development of other pipeline assets, expansion of R&D platforms, and for working capital and general corporate purposes.Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are acting as joint sponsors.Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers.CMB International Capital is acting as a joint global coordinator and joint lead manager, while Tiger Brokers (HK) Global is acting as a joint bookrunner and joint lead manager.
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Asia
Market Chatter: SK Hynix Shares Gain 13% After US Tech Giants Signal No Slowdown in AI Spending
Shares of SK Hynix (KRX:000660) closed nearly 13% higher on Monday, ending trading at a new high of 1,447,000 won per share, after all four of the US tech giants indicated that spending on AI will not slow down, Reuters said in a same-day report.Total AI spending is estimated to surpass $700 billion in 2026, up from about $600 billion previously, as Microsoft and Meta announced larger-than-expected capital expenditure plans, which were partly led by higher memory chip prices, while maintaining confidence in their investments, the report said.In addition, Bank of Korea Senior Deputy Governor Ryoo Sang-dai said that the current chip market boom is likely to last longer as compared to past cycles, echoing similar outlooks from Samsung Electronics (KRX:005930) and SK Hynix during their earnings calls in April, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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