China’s Third-Biggest IPO of the Year Surges in Trading Debut

Bloomberg2022-08-12

Shares of Hygon Information Technology Co., a maker and distributor of computer components, surged in their Shanghai debut, making them this year’s second-best opening performance among large listings...

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  • Bull1973
    2022-08-12
    Bull1973
    Ok
  • WifeWhyWhy
    2022-08-12
    WifeWhyWhy
    Ok
  • PearlynCSY
    2022-08-12
    PearlynCSY
    Shares of Hygon Information Technology Co., a maker and distributor of computer components, surged in their Shanghai debut, making them this year’s second-best opening performance among large listings in China.The stock closed 67% higher at 60.10 yuan after soaring as much as 105% shortly after open. Hygon’s offering raised 10.8 billion yuan ($1.6 billion) following the sale of 300 million shares at 36 yuan each. It’s the largest debut for the Nasdaq-like Star Board in 2022.Hygon’s share sale counted on strong demand from individuals and funds, with tranches reserved for retail investors oversubscribed by more than 2,500 times.In June 2019, the US Department of Commerce included Hygon on a list that requires US companies to seek government approval before selling goods or services to such
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