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Media firm set for city's strongest mainboard debut after shares balloon 880%

Most Kwai Chung Ltd. is presently valued at $2.2b.

Bloomberg reports that media and advertising services provider Most Kwai Tung stock debut is set to smash records as it is in the running for Hong Kong’s strongest mainboard debut in more than two years after stocks ballooned 880$ on its first trading day.

This gives the company a present market value of $2.2b which is about 23 times sales and 60 times its net income in 2017.

Retail investors ordered a record subscription of 6,289 times the stock originally available. B & S International Holdings Ltd., a bubble tea maker, was about 2,600 times oversubscribed in an offering earlier this month.

Here’s more from Bloomberg:

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