Most Kwai Chung (1716.HK)

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100Most publisher soars tenfold on Hong Kong debut after record-breaking IPO demand
The satirical magazine publisher’s IPO attracted retail investor demand of more than 6,000 times the number of shares on offer

Laura He
PUBLISHED : Wednesday, 28 March, 2018, 10:32am
UPDATED : Wednesday, 28 March, 2018, 12:54pm

Most Kwai Chung, which runs popular satirical magazine 100Most and a digital media site tapping into Hong Kong’s youth culture, saw its stock soar as much as tenfold on its trading debut before paring some gains by noon.

The firm’s initial public offering had attracted the most public subscriptions in Hong Kong history.

Most Kwai Chung opened at HK$8.4 on Wednesday morning and quickly shot up to HK$11.76, ten times its IPO price of HK$1.2.

By the noon break, the stock was quoted at HK$7.18, with 150 million shares having changed hands.

With a current market cap of HK$1.9 billion, the company is more valuable than a slew of established media companies in Hong Kong, including Sing Tao News Corporation, i-Cable Communication, Hong Kong Economic Times Holdings, and Next Digital.

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