On August 7, NASN TECH rose 66.03% in regular trading, trading at HK$17.32/share, with turnover of HK$117 million. The stock opened at HK$16.9, representing a 62% premium over its IPO price of HK$10.42, before climbing further.
The surge was driven by the company's first day of trading on the Hong Kong Stock Exchange Main Board. The Hong Kong public offering attracted extraordinary demand, receiving 2,513.54 times oversubscription, while the international offering was 2.12 times subscribed. The company issued 57.59 million H shares in the global offering, raising net proceeds of approximately HK$533 million. Each board lot consists of 100 shares, with a one-lot winning rate of 8%. The stock had already surged over 60% during grey market trading the previous day, signaling strong investor appetite ahead of the official listing.
NASN TECH, founded in 2016, is a high-tech enterprise headquartered in Hangzhou specializing in the R&D, design, manufacturing, and sales of wire-controlled chassis solutions. The company is a leading Chinese innovator in intelligent driving motion control, offering end-to-end autonomous capabilities spanning control algorithms, software, core components, and system-level solutions including NBS, ESC, NBC, RBC, and EMB products.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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