JINYAN KAOLIN (02693.HK) surged 33.56% intraday on its Hong Kong trading debut, driven by robust investor interest in its initial public offering (IPO). The stock opened at HK$9.30, a 27% premium to its final offer price of HK$7.30 per share.
The IPO raised HK$124.3 million, with the Hong Kong public offer oversubscribed 6,876.17 times. The international offering was also oversubscribed 2.01 times, reflecting strong demand for the China-based coal-series kaolin producer. The company allocated 10% of shares to retail investors and 90% to institutional buyers.
JINYAN KAOLIN ranks fifth in China’s calcined coal-series kaolin market by revenue and leads in mullite materials for precision casting, holding a 19.1% market share. Its integrated operations—spanning mining, R&D, and sales—position it as a key player in the niche materials sector.
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