Chinese vape manufacturing giant Smoore became a publicly traded company on the Hong Kong Stock Exchange last week, launching the biggest initial public offering on the HKEX this year.
The IPO raised more than $900 million from investors before the stock began trading publicly on Friday.
The initial stock price of 12.40 Hong Kong dollars (HKD) (about $1.61 U.S.) soared as high as 31HKD on the first day of trading, and finished Monday trading at 29HKD. Smoore is now valued at almost $22 billion U.S.
Shenzhen-based Smoore International Holdings Ltd. is less well known than the brands it manufactures, including Vaporesso, CCELL, FEELM, Revenant and Renova. The company also manufactures many products on contract, including some of the most successful vape brands sold by major tobacco companies worldwide, many of which use Smoore-designed heating tech.
Jim McDonald – Vaping 360 – July 13, 2020.
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