Haixi Pharma (HKG:02637) experienced a remarkable surge of 21.53% in its stock price during the pre-market trading session on Monday, marking a strong start to its first day of trading on the Hong Kong Stock Exchange. This impressive debut comes on the heels of the company's successful initial public offering (IPO), which raised a substantial HK$940.1 million in net proceeds.

The pharmaceutical company's shares were priced at the top end of the expected range at HK$86.40 per share, reflecting strong investor interest. The Hong Kong public offer portion of the IPO was significantly oversubscribed, with demand exceeding the available shares by 3,165.1 times. Meanwhile, the international offering was 6.3 times oversubscribed, indicating robust global investor appetite for Haixi Pharma's shares.

Adding to the positive sentiment, cornerstone investor Harvest International Premium Value (Secondary Market) Fund SPC, acting on behalf of Harvest Oriental SP, subscribed to 1,981,700 shares, representing 17.23% of the total offer shares. This substantial commitment from a cornerstone investor likely contributed to the strong market debut. As Haixi Pharma begins its journey as a publicly-traded company, investors will be closely watching its performance in the coming days and weeks.