Shares of 160 Health International shine in Hong Kong debut

About this update from 160 Health International Ltd.

** Shares of 160 Health International HKEX:2656 trade as high as HK$32.6 in their Hong Kong debut, up 174% from the offer price of HK$11.89 apiece** Stock trims early gains to HK$29.5, still up 148% from the offer price, with 5.5 million shares worth HK$153.1 million ($19.68 million) changing hands by mid-morning ** The pharmaceutical products distributor and healthcare platform operator offered 33.65 million shares for sale in global offering, raising HK$400 million ($51.43 million)** Says proceeds raised will be used to broaden medical resources coverage, boost platform traffic, to fund expansion of in-house R&D team and acquisition, among others** Says subscription level for Hong Kong public offering portion is 751.77 times, while international offering portion is 1.92 times ** Hang Seng Healthcare Index (.HSHCI) falls 1.5%, while benchmark Hang Seng Index HSI:HSI adds 0.8%($1 = 7.7777 Hong Kong dollars)

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