Stock Track | QUANTGROUP Soars 176.94% on HK Market Debut Amid Strong Investor Demand

Stock Track11-27

QUANTGROUP (02685) surged 176.94% in the intraday session on Thursday, marking a spectacular debut on the Hong Kong Stock Exchange. The stock's sharp rise reflects overwhelming investor interest in the company's initial public offering (IPO).

The surge follows the IPO's final offer price of HK$9.80 per share, which was set at the top end of the indicative range. The Hong Kong public offer was oversubscribed by 9,366.28 times, while the international offering was 15.07 times subscribed. The stock opened at HK$26, significantly higher than the offer price, driving the early rally.

Quantgroup raised HK$12.4 million in net proceeds from the IPO, which will be used to boost its R&D capabilities and promote its business model. The strong debut underscores investor confidence in the company's growth prospects.

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