Artificial intelligence firm Beijing Haizhi Technology (2706) surged over 242 percent above its offer price in its Hong Kong debut, giving investors a paper gain of HK$13,108 per board lot of 200 shares.
Shares of Haizhi were traded at HK$92.6, compared to the offer price of HK$27.06.
Haizhi issued 28.03 million shares to raise up to HK$780 million.
Beijing Haizhi Technology attracted 232,258 applications from retail investors for the share sale, marking an oversubscription of 5,065 times for the tranche.
Meanwhile, heat-shrink materials and communications cable maker Shenzhen Woer Heat-Shrinkable Material (9981) inched up in debut, translating into a paper gain of HK$118 per board lot of 200 shares.
Woer issued 140 million shares to raise to HK$2.81 billion.
