Deepexi doubles in Hong Kong debut, as Sany, CIG, Bama mark HKEX’s busiest day since July

Shares of Deepexi Technology, which provides AI applications, doubled to HK$56.50 in their trading debut, from their offer price of HK$26.66, becoming the biggest gainer. Bama Tea’s stock rose 60 per cent from its HK$50 offer price to HK$80.10. Shares of CIG Shanghai, a provider of data transmission devices, rose 36.5 per cent to HK$94, from HK$68.88.

Shares of Sany Heavy Industry began trading at HK$21.30, unchanged from their offer price, in an IPO that helped China’s largest maker of construction machinery raise HK$13.45 billion (US$1.73 billion) in Hong Kong’s third-biggest IPO this year.

“We have long admired Hong Kong’s capital market, and this listing marks the realisation of a goal achieved through years of hard work,” Sany’s chairman Xiang Wenbo said, before striking the ceremonial gong to mark the trading debut of his company’s stock.

“Listing [in] Hong Kong not only signifies the capital market’s recognition of our company’s high-quality growth, but also represents a historic opportunity for Sany to open broader international financing channels and embrace a much larger global market.”

Sany, already listed in Shanghai, priced its shares at the top of an offer range and partially exercised its over-allotment option, adding 51.17 million shares to the 580.42 million shares originally planned for sale.