Hong Kong’s stock exchange had its busiest day of the year for new listings on Wednesday as five mainland Chinese companies made their debuts, cementing the city’s position atop the global ranking for initial public offerings (IPO).
Wuhan Dazhong Dental Medical (2651) was the biggest winner of the day when its shares jumped 20 per cent at the open to HK$24, from its IPO price of HK$20.
The shares of Apple supplier Lens Technology (6613) began trading at HK$18.88, a premium of 3.8 per cent from its offer price of HK$18.18. The Shenzhen-listed maker of lens products raised HK$4.77 billion (US$611 million) in its Hong Kong IPO at the top end of an expected range.
“Today’s listing of Lens in Hong Kong marks a significant milestone in [the company’s] global strategy,” said chairwoman Chau Kwan Fei. “We will use Hong Kong as a lever to integrate international capital with Lens’s manufacturing strengths and the Chinese market, sharing in the growth dividends of Chinese manufacturing.”
Shenzhen-listed chip designer Fortior Technology (1304) rose 8.5 per cent to HK$130.80 after raising HK$2.26 billion. It priced its shares at HK$120.50 each.
Robot maker Beijing Geekplus (2590) rose 0.6 per cent during its trading debut at HK$16.90 after raising HK$2.71 billon.
