HK Stock Market Move | The HERBS GROUP (02593) fell more than 8% on its first day of trading, dropping below the IPO price in early trading. The company is based in Hong Kong's health products market.

On the day after its listing, HERBS GROUP (02593) fell more than 8%, with the stock price dropping below the issue price of HKD 3.75 at one point. The stock closed more than 10% higher yesterday. As of the time of writing, it is down 7.73%, trading at HKD 3.82, with a turnover of HKD 22.05 million. It is reported that HERBS GROUP is a diversified health and beauty supplier rooted in Hong Kong for over twenty years. They utilize a multi-channel sales model, focusing on the development, sales, and marketing of their own branded products. Currently, HERBS GROUP operates a total of eight proprietary brands. According to a Frost & Sullivan report, in 2023, HERBS GROUP ranks fifth among all international and local health product suppliers in Hong Kong, with a market share of approximately 4.9%, based on retail sales of immune system health products. It is worth noting that HERBS GROUP was formerly known as New England X. It was founded in 1999 by Hong Kong TVB star Gregory Lee and his sister, along with another independent third party (who later exited in October 2000). According to the prospectus, HERBS GROUP received 6083.63 times oversubscription in the public offering, making it the second highest oversubscription in the history of Hong Kong stocks after MOST KWAI CHUNG's listing in 2018.