Chemical materials producer Qingdao Gon Technology shines in Hong Kong debut
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Shares of Qingdao Gon Technology surged 41.1% in its Hong Kong debut, reaching HK$50.8, compared to the offer price of HK$36. The company's stock performance outpaced a 0.4% decline in the Hang Seng Index. The Shenzhen-listed stock fell 2.8% to 54.21 yuan. Qingdao Gon raised HK$1.08 billion through the sale of 30 million H shares to enhance production capacity in China and expand into Southeast Asia. The Hong Kong offering saw a subscription level of 2,251.85 times, while the international portion was 10.03 times.
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