BrainAurora Medical Technology, a cognitive impairment digital therapeutics developer, saw its shares soar 5.28% in the intraday session on its trading debut in Hong Kong on Wednesday. The strong performance came after the company raised HK$501.3 million in net proceeds from its initial public offering (IPO) on the Hong Kong bourse.
The IPO was well-received by investors, with the public offering tranche being oversubscribed by 11.39 times. BrainAurora offered 181,112,000 shares at HK$3.22 apiece, with the international or placing shares being 1.01 times subscribed. The company issued 163 million shares through the placing tranche.
The successful IPO and strong stock performance on the debut day reflect investors' confidence in BrainAurora's potential in the digital therapeutics market, particularly in addressing cognitive impairment through its innovative solutions.
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