Content distributor makes trading debut

Business | Avery Chen May 21, 2019
<p>Medialink (2230), a third-party-owned media content distributor, starts trading on the main board today.</p><p>Shares of the Hong Kong-based company fell 8.89 percent to HK$0.41 in the Bright Smart gray market last night.</p><p>The distributor received HK$186 million after pricing its initial public offering at the bottom of the price range of HK$0.45 to HK$0.53. The flotation was 14.77 times oversubscribed.</p><p>Meanwhile, Haitong UniTrust International Leasing, a spinoff of Haitong Securities (6837), launches main board IPO to raise up to HK$2.57 billion.</p><p>The mainland financial leasing company is issuing 1.24 billion shares from HK$1.88 to HK$2.08. It plans to make a market debut on June 3.</p><p>The minimum investment is HK$4,201.92 for a lot of 2,000 shares. The company plans to use 60 percent of the net proceeds to expand its financial leasing and factoring business, 30 percent for overseas aircraft leasing business, and 10 percent for working capital.</p><p>Elsewhere, Hansoh Pharmaceutical started pre-marketing a Hong Kong IPO of about US$1 billion (HK$7.8 billion), and China East Education plans to start pre-marketing of about US$400 million IPO this week.</p>

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June 2019