On June 12, A8 Digital Music Holdings Ltd. (A8 Digital), a digital music company based in Chinese Mainland, floated on HKMB at HK$1.9, raising HK$173M.

The subscribers woo the shares even in the sluggish Hong Kong market. The initial opening price was HK$2.15, up 13% compared with the indicated IPO price.

A8 Digital is an integrated digital music company, distributing its music contents through Internet and the wireless network of mobile operators. The products include SMS, Ring-Back-Tone services and interactive voice response, etc. In 2007, it generated RMB290M of turnover and RMB55.27M of net profit. This is the first-ever digital music service provider share on HKMB.

Xiaosong Liu, Founder of A8 Digital said the company's debut on HKMB marks China's new music contents got recognized by Hong Kong investors. A8 Digital has collected 50,000 music works so far.