Pagoda completes IPO
Pagoda has successfully completed its IPO raising HK$366.1m (US$46.8m) while its share price rose more than 20 per cent on its first day of trading on the Stock Exchange of Hong Kong.
The leading Chinese fruit retailer sold 78,947,500 shares in its IPO before it began trading on Monday 16 January.
Pagoda held listing ceremonies in Hong Kong and Shenzhen to celebrate the milestone and according to Wind Economic Database its stock price rose to HK$6.75 after opening at HK$5.60, an increase of more than 20 per cent. Its total market value reached approximately HK$10.6bn (US$1.3bn).
The company said it would use its listing to help seize development
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