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Hong Kong’s exchange sees one of its busiest IPO days ever, with seven stocks trading for the first time; two shot up 150 per cent
- 24 companies will list in Hong Kong this month
- Hong Kong is trying to retain its crown as the world’s top IPO market
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Hong Kong saw one of its busiest IPO listing days ever, with seven stocks debuting and two shooting up more than 150 per cent, as investors continue to pour money into the city’s hot stock market.
The debut of seven stocks on the main board marked a tie for the second-largest number of IPOs in one day that was set in January. The record high was eight IPOs in a single day on July 12, 2018, according to the Hong Kong Exchanges and Clearing, the city’s stock exchange operator.
Ophthalmic therapy provider OcuMension Therapeutics gained the most, rising as much as 193 per cent before finishing with a 152.4 per cent gain at HK$37.
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Successful secondary listings by NetEase and JD.com last month enabled the two companies to raise more than US$6 billion between them, helping Hong Kong to catch up with New York and Shanghai in the global race for pole position.
Hong Kong is trying to retain its crown as the world’s largest initial public offering market worldwide.
Hong Kong has been the world's top destination for fundraising in seven of the past 11 years.
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