BRIEF: Star Sports Medicine doubles in heavily oversubscribed IPO
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Star Sports Medicine Co. Ltd. performed exceptionally well in its initial public offering (IPO), with its stock price tripling at the start of trading and ultimately rising 132% at midday. The company sold 8.42 million shares at HKD 98.50 each, raising a net income of HKD 758 million (USD 97 million). The public offering for local Hong Kong investors was oversubscribed more than 7,800 times, while the international offering was oversubscribed 9.4 times. Star Sports Medicine is the fourth largest supplier of sports medicine implants and equipment in China, expected to hold approximately 6.5% market share in 2024
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