An unexpected 300 times oversubscription was recorded a few weeks ago when Forgame Holdings Limited (“Forgame”) went IPO on the HKSE. The stock price rose more than 30% on the very first day of trading and closed at HK$67.5. It kept climbing on the following days and reached a record of HK$73.95. IGG Inc., a Singapore mobile game developer, was also listed on the Gem Board of HKSE on 18th October. With the initial offering price of HK$2.8, its share used to reach an incredible HK$4.7 on the first day of trading. People would ask: Why would it be?
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