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HKG:1609

6 stories mentioning HKG:1609

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Asia

Star Sports Medicine Invests 190 Million Yuan in Wealth Products; Shares Up 3%

Star Sports Medicine (HKG:1609) subscribed to two wealth management products with a combined principal amount of 190 million yuan, according to a Tuesday Hong Kong bourse filing.Shares of the medical device company were up nearly 3% in Wednesday afternoon trade.The company subscribed to an 80 million yuan wealth management product issued by Agricultural Bank of China (HKG:1288, SHA:601288) on May 26 and a 110 million yuan product issued by Bank of Beijing on May 11, using its own funds.The company said the subscriptions were part of its routine treasury management of idle funds and followed the maturity of earlier wealth management and structured deposit investments this month.

HKG:1288HKG:1609SHA:601288
Asia

Hong Kong Stocks Slump As Middle East Fighting Escalates

Hong Kong equities fell Tuesday as bearish sentiment prevailed amid escalating tensions in the Middle East.The Hang Seng Index fell by around 197.27 points, or roughly 0.8%, to end at 25,898.61, while the Hang Seng China Enterprises Index decreased by 43.90 points, or around 0.5%, to close at 8,730.49.Fighting in the Middle East resumed as the U.S. and Iran vied for control of the critical Strait of Hormuz, after U.S. President Donald Trump said Washington would help ships stranded in the waterway, a key route that carried about one-fifth of global oil and LNG trade before the war.Iran had previously warned it would view any such action as a violation of a previously agreed ceasefire.The Middle East conflict will hit many Asia-Pacific corporate sectors through oil price hikes, shipping and supply chain disruptions, dampened demand, and delayed cyclical rebounds, Fitch Ratings said in a recent release.In corporate news, two firms filed to go public in Hong Kong.Metis TechBio (HKG:7666) is seeking to raise about HK$2.11 billion via the sale of 201.2 million shares at HK$10.50 per share. The Chinese AI-driven nanotechnology company will use funds to further research and development of AI infrastructure.Meanwhile, Impact Therapeutics (HKG:7630) launched its IPO to raise HK$913 million via the sale of 42 million shares at an indicative maximum price of HK$21.75 per share. The China-based biotechnology firm will use proceeds mainly to fund clinical development.Elsewhere, Star Sports Medicine (HKG:1609) had a stellar debut in Hong Kong. The medical device company's shares closed at HK$215 per share on their first day of trading, 118% above the offer price of HK$98.50.

Hang SengHKG:1609HKG:7630HKG:7666
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.

HKG:1609
Asia

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

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.

HKG:1609
Asia

Hong Kong Stocks End Week Marginally Higher; Star Sports Medicine Launches IPO

Hong Kong stocks ended marginally higher Friday as investors tracked developments in the Middle East.The Hang Seng Index rose by around 62.87 points, or roughly 0.2%, to end at 25,978.07 while the Hang Seng China Enterprises Index increased by 42.99 points, or around 0.5%, to close at 8,775.62.Iran on Thursday flexed its control over the Strait of Hormuz after posting a video that purportedly showed its military seizing a huge cargo ship, Reuters reported.The video was released amid an order by U.S. President Donald Trump asking the U.S. Navy to step up demining activity in the region and "shoot and kill" Iranian boats laying mines in the strait which used to serve as a shipping route for one-fifth of the world's oil and liquefied natural gas before the war.Mizuho's head of macro strategy for APAC, Vishnu Varathan, said attempts to de-escalate the violence in the region would be non linear, Reuters reported. "I don't think anybody in the market truly believes that this will be over in a week or two," Varathan reportedly said.Meanwhile, Hong Kong's consumer prices rose 1.7% in March from a year earlier, data from the city's Census and Statistics Department showed.The underlying inflation rate, which excludes the effects of all one-off government relief measures, rose to 1.6%, up from an average of 1.3% in January and February.Elsewhere, the city's seasonally adjusted unemployment rate fell to 3.7% in the January to March period from 3.8% in the December 2025 to February 2026.In corporate news, Star Sports Medicine (HKG:1609) launched its Hong Kong initial public offering to raise about HK$829.6 million.The China-based medical device company is offering 8.4 million H-shares at an offer price of HK$98.50 per share to raise funds for the expansion of production capacity, as well as to support research and development.

Hang SengHKG:1609
Asia

Star Sports Medicine Launches Up to HK$830 Million Hong Kong IPO

Star Sports Medicine (HKG:1609) launched its Hong Kong initial public offering on Friday, seeking to raise about HK$829.6 million from the deal.The China-based medical device company is offering 8.4 million H-shares at an offer price of HK$98.50 per share, according to a Hong Kong bourse filing.The offering comprises 842,200 shares for Hong Kong investors and 7.6 million shares for international investors, subject to reallocation.The Hong Kong public offering closes on April 29, with allocation results due by May 4, ahead of the company's planned trading debut on May 5.Net proceeds will be used mainly to expand production capacity and enhance manufacturing efficiency, as well as support research and development.The funds will also be used to strengthen sales and marketing capabilities, expand global distribution, and for working capital and general corporate purposes.CITIC Securities (Hong Kong) and CCB International Capital are acting as joint sponsors.CLSA and CCB International Capital are serving as overall coordinators, alongside China Galaxy International Securities and CMBC Securities, and are also acting as joint bookrunners.Futu Securities International (Hong Kong), Open Securities, Orient Securities (Hong Kong), and Zheshang International Financial are acting as joint bookrunners and joint lead managers.

HKG:1609