Harmonicare Medical's IPO delivers $205m

The private obstetrics and gynaecology hospital group's listing on the Hong Kong bourse priced at the very top of the range despite market turbulence.

Harmonicare Medical Holdings, a private obstetrics and gynaecology hospital group, raised HK$1.59 billion $205.1 million in its Hong Kong initial public offering Thursday after pricing its shares at the top of the range.

The hospital group was offered at a compelling valuation to its peers, and therefore did not have trouble drumming up demand despite crashing A-share markets and turbulence caused by a potential Greek exit from the Eurozone. On Thursday, Eurozone finance ministers ruled out any further talks for a new bailout for Greece until its referendum on Sunday.

The Shanghai Stock Exchange Composite Index fell 3.59% on Thursday.

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