Sunshine Lake Pharma falls in Hong Kong trading debut as market's IPO buzz takes a breath
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Trading under the stock sign 6887, Sunshine's shares began trading at HK$57.50 on Thursday, a discount of 4.5 per cent to its
initial public offer price of HK$60.24 in Hong Kong.
Known also as Guangdong Dongyangguang Pharmaceutical, Sunshine is one of more than 50 drug companies that are looking to raise capital in Hong Kong, answering a drive by the bourse operator
Hong Kong Exchanges and Clearing (HKEX), which has turned the city into the world's second-largest fundraising hub for
pharmaceutical and medical research start-ups.
'The company will accelerate the integration of high-quality resources, speed up the commercialisation and globalisation of its innovative drug pipeline, and inject strong momentum into sustainable growth', Sunshine's chairman Zhang Yingjun said at the HKEX's Connect Hall, before striking a ceremonial gong to mark the commencement of trading.
'Our responsibility is heavy and the road is long, but we will dedicate ourselves to our chosen path. This listing is a new starting point for us. We will follow the path of hi-tech R&D and innovation to produce excellent medicines for patients and improve our performance to build a world-class pharmaceutical company.'
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