Li-backed fintech's shares soar 9400pc in two weeks

Shares of AMTD Digital, backed by Hong Kong's richest man Li Ka-shing have soar 9,400 percent to US$742 (HK$5,787) in two weeks of being listed in New York.

Priced at US$7.8 per share for its initial public offering, the fintech firm's market capitalization has jumped to US$137.4 billion exceeding that of the London-based lender HSBC (0005).

Its parent AMTD group, founded by CK Asset (1113) and Hutchison Whampoa in 2003, operates businesses including investment banking, asset management, insurance and new economy investment.

AMTD Digital is a shareholder in Hong Kong's virtual bank Airstar Bank. Meanwhile, ZhongAn Online P & C Insurance (6060), the major shareholder of another virtual bank in the city, has a market cap of about HK$29.4 billion, less than 3 percent of AMTD Digital.