Stock Track | Ridge Outdoor Soars 102.45% at Hong Kong Debut as Shares Open at Nearly Double IPO Price

Stock Track02-10

Ridge Outdoor International's stock soared 102.45% during early intraday trading on its debut day on the Hong Kong Stock Exchange.

The sharp rise came as the fishing-related equipment maker began trading at HK$24.02 per share, nearly double its initial public offering price of HK$12.25. The company raised HK$285.2 million from its IPO, with the Hong Kong public offer being 3,654.23 times subscribed, indicating overwhelming investor demand.

The stock's strong debut reflects high market interest in the company's listing, with cornerstone investors Orbit Venture Capital Management and Huangshan Dejun Enterprise Management allotted a combined 37.62% of the global offering.

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