Sunshine Lake Pharma’s shares fell in their trading debut in Hong Kong, as the city’s buzz over first-day trading took a breather while the stock market sought fresh directions from mainland China’s macroeconomic statistics and trade talks.
Known also as Guangdong Dongyangguang Pharmaceutical, Sunshine was the first stock to commence trading by introduction on the local exchange after a takeover of its Hong Kong-listed subsidiary.
Trading under the stock sign 6887, Sunshine’s shares began trading at HK$57.50 in a declining market on Thursday, a discount of 4.5 per cent to thelast traded price of its unit of HK$60.24 a day earlier.
“The company will accelerate the integration of high-quality resources, speed up the commercialisation and globalisation of its innovative drug pipeline, and inject strong momentum into sustainable growth”, Sunshine’s chairman Zhang Yingjun said at the HKEX’s Connect Hall, before striking a ceremonial gong to mark the commencement of trading.
“Our responsibility is heavy and the road is long, but we will dedicate ourselves to our chosen path. This listing is a new starting point for us. We will follow the path of hi-tech R&D and innovation to produce excellent medicines for patients and improve our performance to build a world-class pharmaceutical company.”
