Mao Geping’s stock price soared 85% on its first day of trading on the Hong Kong Stock Exchange, marking a highly successful debut. The Chinese beauty brand raised approximately US$300 million through its initial public offering (IPO), making it the most successful flotation of its kind in the city since 2020.
Shares opened at HK$47.65 and quickly climbed to HK$55.25 during afternoon trading, according to a report by Reuters.
Ben Cavender, Managing Director of China Market Research Group, told Reuters, “Mao Geping is one of the few domestic brands leading the premium market. This sets it apart from many Chinese beauty brands that have focused on value but lack strong brand recognition.”
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