Robot visual perception solutions provider LDRobot more than doubles in HK IPO debut

Robot visual perception technology solutions provider Shenzhen LDRobot (1236) more than doubled in its Hong Kong debut on Monday. 

The Shenzhen-based company’s shares jumped 127.6 percent to HK$60 at the close, compared to its offer price of HK$26.36 per share, which was slightly above the middle of its indicative price range. That indicated a paper gain of more than HK$6,700 per board lot of 200 shares for investors.

It raised HK$878.7 million from the offering of 33.33 million shares. 

The firm’s retail tranche was 6,706 times oversubscribed, making it the second-hottest initial public offering on the mainboard in Hong Kong this year, after Star Sports Medicine (1609), which recorded an oversubscription of 7,822 times.

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