Deepexi doubles in Hong Kong debut, as Sany, CIG, Bama mark HKEX’s busiest day since July

Shares of Deepexi Technology, which provides AI applications, more than doubled to HK$66.80 in their trading debut, from their offer price of HK$26.66, making the stock the biggest gainer among the four. Bama Tea’s stock rose 86.7 per cent from its HK$50 offer price to HK$93.35. Shares of CIG Shanghai, a provider of data transmission devices, rose 33.9 per cent to HK$92.20, from HK$68.88.

Shares of Sany Heavy Industry began trading at HK$21.30, unchanged from their offer price, before rising 2.8 per cent to HK$21.90 at the close. The IPO helped China’s largest maker of construction machinery raise HK$13.45 billion (US$1.73 billion) in Hong Kong’s third-biggest IPO this year.

“We have long admired Hong Kong’s capital market, and this listing marks the realisation of a goal achieved through years of hard work,” Sany’s chairman Xiang Wenbo said, before striking the ceremonial gong to mark the trading debut of his company’s stock.

“Listing [in] Hong Kong not only signifies the capital market’s recognition of our company’s high-quality growth, but also represents a historic opportunity for Sany to open broader international financing channels and embrace a much larger global market.”

Sany, already listed in Shanghai, priced its shares at the top of an offer range and partially exercised its overallotment option, adding 51.17 million shares to the 580.42 million shares originally planned for sale.