One of the investors of the virtual bank Starling Bank and a subsidiary of ATMD , $AMTD Digital(HKD.US)$ has seen its share price rise sharply since its listing on the New York Stock Exchange on July 15. As of Monday (Aug. 1), the U.S. stock market closed at $742, up 94.12 times from its IPO price of $7.80, and its market value reached $137.3 billion, even surpassing HSBC (00005.HK)
According to the prospectus document, AMTD holds 88.7% of the company's equity and 99.4% of the voting rights, before taking into account the oversubscribed green shoe mechanism. For the year ending April 2021, the company has annual profit attributable to shareholders of HK$177 million and a price-to-earnings ratio of over 6,000 times.
Founded by Li Ka-shing's Cheung Kong Group and Hutchison Whampoa in 2003, Somerset Group's main businesses include asset management, investment banking and insurance brokerage. Somerset International, its investment bank, is listed on the New York Stock Exchange and Singapore Exchange, and will spin off its digital financial services business to Somerset Digital in 2019.