Shougang Lanza's stock surged 83.42% intraday on Wednesday, marking a strong debut on the Hong Kong Stock Exchange.
The carbon capture technology company opened at HK$28 per share, significantly above its final offer price of HK$14.60. The substantial premium reflects strong investor demand, with the Hong Kong public offer being 1,421.54 times subscribed.
The company raised HK$486.5 million in net proceeds from its initial public offering, offering 40 million H-shares in the global offering. The high subscription rate indicates robust market interest in the China-based carbon capture, utilization, and storage technology firm.
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