On the first day of trading, LANCANG TEA made its debut on the stock market with a flat opening in the morning session.
LANCANG TEA, the first listing of its kind, announced that the company issued 21 million H-shares at a price of HKD 10.7 per share, with a minimum trading unit of 200 shares. The net proceeds from the issuance amounted to approximately HKD 159.9 million. As of the time of writing, the stock opened at HKD 10.7 with a trading volume of HKD 7.576 million. According to a Frost & Sullivan report, based on the revenue generated by Pu'er tea products in 2022, LANCANG TEA is the third largest Pu'er tea company in China, with a market share of 2.4%. Based on the revenue generated by Pu'er tea products in the six months ending June 30, 2023, the company's market share in the Chinese Pu'er tea market is 2.8% and 2.5% respectively. As of the last feasible date, LANCANG TEA has 559 offline stores, including 23 self-operated stores and 536 stores operated by distributors.
Zhitong App learned that LANCANG TEA (06911) has made its debut on the stock market. According to the announcement, the company issued 21 million H shares, priced at HKD 10.7 per share, with a minimum trading unit of 200 shares. The net proceeds from the offering amounted to approximately HKD 159.9 million. As of the time of writing, the stock opened at HKD 10.7, with a trading volume of HKD 7.576 million.
According to a report by Frost Sullivan, based on the revenue generated by Pu'er tea products in 2022, LANCANG TEA is the third largest Pu'er tea company in China, with a market share of 2.4%. Based on the revenue generated by Pu'er tea products in the six months ending June 30, 2023, the company's market share in the Chinese Pu'er tea market was 2.8% and 2.5% respectively for 2021 and the aforementioned period. As of the last feasible date, LANCANG TEA has 559 offline stores, including 23 self-operated stores and 536 stores operated by distributors.