Fufeng Group, which raised HK$892 million in an initial public offering, surged 37.22 per cent in its listing debut yesterday, reflecting investors' strong appetite for mainland leaders in domestic-consumption products. China Huiyuan Juice Group, whose share offering has attracted overwhelming response from retail investors, is also benefiting from the demand. Shares in Fufeng, a corn-based products maker, closed at HK$3.06, against the offer price of HK$2.23, with 286.44 million shares traded. The stock hit a high of HK$3.11, just off the 40 per cent gain the market had forecast for its first trading day. 'Fufeng performed well,' Cash Asset Management associate director Patrick Yiu said. 'The market values China's market leader at a higher premium.' Fufeng, the mainland's largest producer of the food additive glutamic acid, priced its shares at the top end after receiving subscription orders 639 times more than the number of shares set aside for retail investors. ABN Amro Rothschild and Goldbond were the bookrunners. The company has made the best debut gains and recorded the most retail orders among the four initial public offerings this year. It may be eclipsed by Huiyuan, China's largest pure juice producer, given the strong response from investors. Five brokerages polled by the South China Morning Post - Bright Smart Securities, China Everbright Securities, Prudential Brokerage, Phillip Securities and Sun Hung Kai Financial - received margin orders yesterday worth a combined HK$16.2 billion, representing at least 67.5 times the offer size for retail investors. 'Given the hotter response to Huiyuan and its better investment concept, it will beat Fufeng in terms of debut gains and oversubscription level,' Bright Smart general manager Nelson Chan said. 'Huiyuan should gain at least 40 per cent on its debut and be more than 700 times oversubscribed.' The response was so strong that many brokerages would stop accepting margin orders earlier than the scheduled February 12, China Everbright director Stephen So said. Huiyuan is offering 400 million new shares, with 10 per cent set aside for retail investors, at HK$4.80 to HK$6 each.