Understanding the Market | HERBS GROUP fell over 8% on the second day of its listing, briefly dropping below the issue price in early trading. The company is based in the Hong Kong health supplement market
HERBS GROUP fell over 8% on the second day of its listing, briefly dropping below the issue price of HKD 3.75 during trading. The stock closed up over 10% yesterday. As of the time of writing, it is down 7.73%, priced at HKD 3.82, with a transaction volume of HKD 22.05 million. It is reported that HERBS GROUP is a diversified supplier of health and beauty products that has been rooted in Hong Kong for over twenty years, employing a multi-channel sales model and focusing on the development, sales, and marketing of its own branded products. Currently, HERBS GROUP operates a total of eight proprietary brands. According to a report by Frost & Sullivan, in 2023, among all international and local health product suppliers in Hong Kong, HERBS GROUP ranked fifth in retail sales of immune system health products, with a market share of approximately 4.9%. Notably, HERBS GROUP was formerly known as New Ying Meikex, founded in 1999 by TVB star Kevin Kwan and his sister Kwan Chi Yin, along with an independent third party (who exited in October 2000). Additionally, according to the placement announcement, HERBS GROUP received an oversubscription of 6,083.63 times in the public offering, a subscription ratio that is second only to that of the 2018 listing of Ma Ji Kwai Chung in Hong Kong stock history
According to Zhitong Finance APP, HERBS GROUP (02593) fell more than 8% on the second day of its listing, briefly dropping below the issue price of HKD 3.75 during the session. The stock rose over 10% yesterday. As of the time of writing, it is down 7.73%, priced at HKD 3.82, with a transaction volume of HKD 22.05 million.
It is reported that HERBS GROUP is a diversified supplier of health and beauty products that has been rooted in Hong Kong for over twenty years, employing a multi-channel sales model and focusing on the development, sales, and marketing of its own brand products. Currently, HERBS GROUP operates a total of eight proprietary brands. According to a report by Frost & Sullivan, in 2023, among all international and local health product suppliers in Hong Kong, HERBS GROUP ranked fifth in retail sales of immune system health products, with a market share of approximately 4.9%.
It is noteworthy that HERBS GROUP was formerly known as New Ying Meikes, founded in 1999 by TVB star Kwok Chun On and his sister Kwok Chi Yin, along with an independent third party (who exited in October 2000). Additionally, according to the placement announcement, HERBS GROUP received an oversubscription of 6,083.63 times in the public offering, a subscription ratio second only to that of the 2018 listing of Ma Ji Kwai Chung in Hong Kong stock history