Date
21 October 2018

Webgame developer Forgame off to a flying start

Chinese webgame developer Forgame Holdings (00484.HK) made an impressive debut on the Hong Kong bourse on Thursday. After a hugely successful initial public offering, the company’s shares soared as much as 36.5 percent above the offer price of HK$51.0 on the first day of trading.

The new listing opened at HK$61.75, more than 21 percent above the IPO price, and moved to as high as HK$69.60 before falling back slightly. In late afternoon trading, it was changing hands at HK$69.15.

Forgame shares are traded in board lots of 100 shares each. That means, excluding transaction fees, investors can earn up to HK$1,780 per lot at the current price.

The counter’s strong debut is likely to prompt more game developers to seek listings on the Hong Kong stock exchange.

– Contact the writer at [email protected]

RC

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