THE WHAT? Shanghai-based skin care company Chicmax has become the first mainland China skincare company to list on the Hong Kong Stock Exchange, according to a report by WWD.com.
THE DETAILS The company has brands such as Kans, One Leaf, Baby Elephant, Bio-G and Hanamino under its umbrella, and opened at 25.20 Hong Kong dollars (US$3.23) – raising 835 million Hong Kong dollar.
THE WHY? Chicmax is said to have eyed a listing on the Shanghai Stock Exchange in 2021, before transferring its focus to Hong Kong.
According to a report by a Frost & Sullivan, Chicmax has been reinventing itself hero brands to align with market trends and remain afloat in an industry dominated by global companies.