CF PHARMTECH (HKG:2652) saw its stock price soar by an astounding 218.64% in its trading debut on the Hong Kong Stock Exchange. The inhalation drug developer's shares opened at HK$47 each, marking a dramatic increase from its initial public offering (IPO) price of HK$14.75 per share.

The exceptional performance comes on the heels of a highly successful IPO that raised HK$525.4 million in net proceeds. The offering was met with overwhelming demand, particularly in the Hong Kong public portion, which was oversubscribed by a staggering 6,697.80 times. This intense interest led to the company maintaining its initial allocation of 4,120,000 shares for the public offering. Meanwhile, the international offering was 12.74 times oversubscribed, with a final allocation of 37,078,000 shares.

The extraordinary debut of CF PHARMTECH reflects strong investor confidence in the company's prospects and the broader biotech sector. As the stock begins trading, market observers will be keenly watching to see if this momentum can be sustained in the coming days and weeks. The company's performance could also potentially influence sentiment towards other upcoming IPOs in the Hong Kong market.