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. 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 stock bulls keep rally alive on IPO charm amid new Covid-19 cases Hong Kong has been the world's top destination for fundraising in seven of the past 11 years . Some 24 companies are listing on the Hong Kong bourse this month, according to data from the Hong Kong stock exchange. That shows that the inflow of hot money into Hong Kong continues to defy doomsday speculation of capital flight amid the controversial national security law. “A lot of hot money is flowing into these new IPOs. Investors are not too worried about the national security law, and we see a lot of liquidity flowing in the markets,” said Stanley Chan, director of research at Emperor Securities. Ophthalmic therapy provider OcuMension Therapeutics – the stock that soared nearly 200 per cent in early trading – offered 105.93 million shares at a price of HK$14.66, raising HK$1.55 billion. It was oversubscribed 1,895.76 times. The funds will mainly be used to develop its new drugs as well as its core product OT-401, which treats chronic eye inflammation affecting the posterior segment of the eye. Hong Kong puts a lid on soaring currency, defying doomsday talk E-cigarette maker Smoore International Holdings offered 574.35 million shares at a price of HK$12.40, raising HK$7.12 billion. It was oversubscribed 116 times. It soared 150 per cent to HK$31. Greentown Management Holdings, the property management arm of developer Greentown China, offered 477.56 million shares at a price of HK$2.50, hoping to raise HK$1.19 billion. It was oversubscribed 11.2 times. It rose 30 per cent to HK$3.25. Zhenro Services Group, property management arm of developer Zhenro Properties Group, offered 250 million shares at a price of HK$4.55, aiming to raise HK$1.14 billion. It was oversubscribed 102 times. It advanced 23.1 per cent to HK$5.60. Biotech firm Immunotech Biopharm offered 100 million shares at a price of HK$11, raising HK$1.1 billion. It was oversubscribed 260 times. It shot up 40.7 per cent to HK$15.48. Hong Kong stocks slide as a resurgence in coronavirus cases dents optimism Online advertising firm Adtiger Corporations offered 150 million shares at a price of HK$0.86, raising HK$129 million. It was oversubscribed 5.18 times. It gained 24.4 per cent to HK$1.07. Meanwhile, China’s private hospitals operator Honliv Health Care Management Company delayed its listing on Friday. Wire and cable manufacturer China Saftower International Holding Group debuted on the smaller GEM board. It offered 200 million shares at a price of HK$0.30, aiming to raise HK$60 million. It was oversubscribed 29.1 times. It fell 27.7 per cent to HK$0.217. Hong Kong hosted 64 new stock listings in the first half of the year, allowing mostly mainland companies to raise HK$87.5 billion (US$11.3 billion) in capital from investors, according to a report published by accounting firm PwC. That is an about 22.3 per cent increase in sum over the same period in 2019, according to data provider Refinitiv.