Ridge Outdoor shares almost double in Hong Kong IPO debut

Fishing gear maker Ridge Outdoor International (2720) nearly doubled in its Hong Kong debut on Tuesday, giving investors a paper gain of up to HK$5,885.

The company's shares opened at HK$24.02, a 96.1 percent premium over the offer price of HK$12.25.

Meanwhile, shares of Axera Semiconductor (0600), a supplier of artificial intelligence system-on-chips, opened flat at HK$28.20, matching its offer price. The company issued 100 million shares, aiming to raise approximately HK$2.96 billion.