Chinese fibre-optic communications equipment maker Ligent Technologies made a stellar debut on the Hong Kong Stock Exchange on Tuesday, surging as much as 19.2% during early trading.
The strong market entry follows a successful initial public offering (IPO) that raised HK$5.67 billion ($722.70 million).
Debut Performance & Valuation
-
Opening & Peak: The stock opened at HK$36.60—above its offer price of HK$32.96—and climbed to an intraday high of HK$39.30 before paring some gains.
-
Market Capitalization: At the offer price, the base offering of 172.01 million shares valued the company at approximately HK$32.4 billion.
-
Investor Demand: The IPO saw heavy interest, with the Hong Kong public offering subscribed 35.16 times and the international tranche oversubscribed by 4.67 times.
Strong Institutional Backing
Ligent’s listing attracted a prominent roster of cornerstone investors, including:
-
Primavera Investment Fund
-
GigaDevice & Amlogic Hong Kong
-
Mirae Asset Securities HK & PAG
-
ORIX-backed Turquoise Hime & Barings
-
GF Fund & E Fund
The robust first-day showing adds fresh momentum to Hong Kong’s primary market, highlighting sustained investor appetite for high-tech manufacturing and communication listings in the region.
