rises 5.9% in first day's trading on GEM

Bucking the trend of recent issues on Hong Kong''s Growth Enterprise Market, celebrity portal''s shares rose in their first day''s trading.

Shares of entertainment portal rose 5.9% in their first day of trading, bucking the recent trend for new issues on Hong Kong's Growth Enterprise Market. The company is betting its roster of 150 celebrities will keep gossip-hungry Chinese consumers flocking to its site. It seems investors agree.

Stareastnet's shares rose to HK$1.25 from their offer price of HK$1.18. The company sold 170 million shares to raise HK$200.6 million $25.7 million to help finance the...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: stareastnetcom | rises | 59 | first | trading | gem

Print Edition

FinanceAsia Print Edition