On the first day of trading, WELLCELL HOLD made its debut on the stock market, opening at a 77% increase in the morning session.
WELLCELL HOLD made its debut on the stock market with an IPO price of HKD 1 per share, raising a net amount of HKD 62.67 million. As of the time of writing, the stock price has risen by 77% to HKD 1.77, with a trading volume of HKD 11.3692 million. WELLCELL HOLD is a Chinese telecommunications network support, information and communication technology (ICT) integration service provider, and software developer. The company's clients mainly include telecom operators, equipment manufacturers, technology service providers, and general contractors.
Zhitong App learned that WELLCELL HOLD (02477) has made its debut on the stock market. According to the announcement, the company issued 125 million shares at a price of HKD 1 per share, with a minimum trading unit of 4,000 shares. The net proceeds amounted to HKD 62.67 million. As of the time of writing, the stock has risen by 77% to HKD 1.77, with a trading volume of HKD 11.3692 million.
According to the prospectus, WELLCELL HOLD is a provider of telecommunications network support, information and communication technology (ICT) integration services, and software development in China. When the group started its business in 2003, it mainly focused on developing telecommunications network performance analysis software. Later, the business scope expanded to providing telecommunications network support services and ICT integration services.
WELLCELL HOLD's customers can be roughly divided into telecommunications operators, telecommunications network equipment manufacturers, telecommunications network and technology service providers, general contractors, and others. During the reporting period, the company mainly undertook projects in the following ways: directly obtaining the entire project or part of the project from telecommunications operators or other end customers, or receiving one or more related sub-projects or engineering assignments from general contractors after they split the project into multiple sub-projects or engineering works. During the reporting period, WELLCELL HOLD had a total of 65, 81, 78, and 64 customers, with their main business locations all in China.