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Star Sports Medicine Nets HK$758 Million Ahead of Hong Kong Trading Debut

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-- Star Sports Medicine (HKG:1609) raised HK$758.4 million in net proceeds from its initial public offering in Hong Kong.

The offer price was set at HK$98.50 per H-share, according to a Monday filing with the Hong Kong Stock Exchange.

The China-based medical device company offered 8.4 million H-shares in the global offering.

The Hong Kong public offer was 7,823.13 times subscribed, with a final allocation of 842,200 shares, representing 10% of the total offering.

The international offering was 10.41 times subscribed, with a final allocation of 7.6 million shares, or 90% of the total offering.

Cornerstone investors, including JSC International Investment Fund SPC, OAP IV (HK) Limited, and Greater Bay Area Development Fund Management, were allocated about 2.9 million shares in the international tranche, according to the filing.

Star Sports Medicine is scheduled to debut on the Hong Kong bourse on Tuesday, May 5.

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