Insilico Medicine leads 6 Hong Kong IPOs, capping banner year for fundraising
Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021
Six companies debuted on the Hong Kong stock exchange on Tuesday, capping a year that reaffirmed the city’s dominance as the world’s top initial public offering (IPO) market and one of the best-performing benchmarks.
The six debutants raised a combined HK$6.99 billion (US$899 million), adding to several sizeable deals this year. As of Tuesday, the Hong Kong IPO market raised HK$285.8 billion from 119 listings, with first-day trading showing an average share price gain of nearly 40 per cent, according to exchange data.
“We extend our gratitude to the Hong Kong stock exchange and Hong Kong as a city for providing this world-class platform for many investors,” said Alex Zhavoronkov, founder, chairman and CEO of Insilico, during a ceremony at Hong Kong Exchanges and Clearing. “This is just the beginning. Let’s work together to make this world a safer, better and healthier place so people can live much longer, healthier and more productive lives.”
OneRobotics (Shenzhen), which provides smart home robotic systems in Japan, Europe and North America, rose 0.1 per cent to HK$73.85 from its offer price of HK$73.80, after raising HK$1.64 billion in its IPO.
Beijing 51WORLD Digital Twin Technology gained 29.9 per cent to HK$39.62 from its offer price of HK$30.50, while Shanghai Forest Cabin Cosmetics Group rose 9.3 per cent to HK$85 from HK$77.77. Shenzhen Xunce Technology, which provides real-time data infrastructure and analytics, finished the day at HK$48.50, up 1 per cent from its offer price of HK$48, while USAS Building System (Shanghai) added 7.6 per cent to HK$7.64 from HK$7.10.