Stock Track | LINGYI ITECH Soars 12.87% in Morning Trading on Hong Kong Debut After 96x Oversubscribed IPO
Stock Track
Jun 26
LINGYI ITECH's stock soared 12.87% in morning trading on its debut on the Hong Kong Stock Exchange, driven by exceptionally strong investor demand for its initial public offering.
The company's IPO was priced at HK$10.18 per share, raising net proceeds of approximately HK$8.15 billion. Investor appetite was robust, with the Hong Kong public offering portion oversubscribed 96.16 times and the international offering oversubscribed 10.27 times.
Further supporting the positive debut, the Shenzhen Stock Exchange announced the inclusion of LINGYI ITECH in the Stock Connect program on the same day, granting mainland Chinese investors immediate access to trade the shares and providing an additional source of liquidity.
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