Chinese Electronics Maker Huaqin Rises in Hong Kong Debut After $581 Million Listing
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Shares of Chinese electronics manufacturer Huaqin surged in its Hong Kong debut, raising HK$4.55 billion (US$580.8 million) by issuing 58.5 million shares at HK$77.70 each. The stock initially jumped 17% before settling at 12% higher. Huaqin, already listed in Shanghai, plans to use the proceeds for R&D, manufacturing expansion, and strategic investments. The company, a leading original design manufacturer, aims to enter the automotive electronics and robotics sectors. This listing contributes to a growing trend of public offerings in Hong Kong, with nearly 500 listings anticipated.
Source: MorningStar The copyright of this article belongs to the original author/organization.
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