BeautyFarm Med 2373 Hong Kong a Buy
Beauty Farm Medical and Health Industry Inc. ("BeautyFarm Med" or "Company", stock code: 2373.HK), the largest provider of traditional beauty services in China in term of revenue in 2021, successfully listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today, with a board lots of 500 shares each.
The stock price of BeautyFarm Med reached HK$30.5 at its debut today, representing an increase of 57.9% over the offer price. The share price closed at HK$29.65, up 53.5% and represents a market capitalization of HK$ 6.83billion.
Morgan Stanley Asia Limited, Haitong International Capital Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors to the global offering; Morgan Stanley Asia Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Managers to the global offering.
The Company states that the listing of BeautyFarm Med in Hong Kong marks a key milestone and unfolds a new chapter in the Company's development. Looking ahead, BeautyFarm Med will strategically expand its service network and marketing channels to enlarge its client base and increase brand awareness.
The Company will also further enhance its operational efficiency and client experience by introducing new technologies, equipment and products, and expanding its service offerings. Moreover, the Company will continue to cultivate, recruit and retain high-caliber talent and strengthen its human resources management mechanism; and integrate industry resources and promote the development of industry standards by deepening cooperation with upstream suppliers and sharing its industry and management experience, thereby creating greater value for the clients, shareholders and employees.
Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. (stock code: 2373.HK) is a leading player in China's beauty and health management service industry, which has a large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. BeautyFarm Med is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6%, respectively, as measured by revenue in 2021 and according to Frost & Sullivan. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:
Porda Havas International Finance Communications Group
Tel: 852 3150 6788
Email: [email protected]
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