HUAQIN's stock soared 14.54% during intraday trading following its highly anticipated debut on the Hong Kong Stock Exchange.
The significant price surge was driven by overwhelming investor demand for the company's initial public offering. The Hong Kong public offering was oversubscribed by 531.33 times, while the international offering was oversubscribed by 13.34 times, indicating exceptionally strong market interest. The IPO raised approximately HK$4.46 billion in net proceeds with the final offer price set at HK$77.70 per share, at the top end of the indicated range.
The offering attracted 17 cornerstone investors who collectively subscribed for roughly 49.96% of the issued H-shares, providing substantial institutional support for the listing. Prior to the debut, shares were expected to open at a significant premium to the offer price, reflecting the intense demand from both retail and institutional investors during the subscription period.
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