Stock Track | Galaxis Technology Soars 88.60% in Market Debut as Shares Open at Double IPO Price

Stock Track03-24

Galaxis Technology's stock soared 88.60% during its market debut, with shares opening at a significant premium to their initial public offering price.

The intelligent intralogistics robotics provider raised HK$555.7 million from its Hong Kong IPO, with the final offer price set at HK$16.66 per share. The offering saw massive demand, with the Hong Kong public offer oversubscribed by 2,153.26 times, indicating strong investor interest in the company.

The stock opened at HK$32 per share in its trading debut, nearly double the IPO price of HK$16.66, driving the substantial intraday gain as investors rushed to acquire shares in the newly listed company.

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