ALEBUND-B (09637) shares soared 84.16% in intraday trading on Monday following its highly anticipated debut on the Hong Kong Stock Exchange.

The biopharmaceutical company's stock opened at HK$42 per share, significantly above its initial public offering price of HK$22.60. Alebund Pharmaceuticals raised approximately HK$1.18 billion in net proceeds from the IPO, which was heavily oversubscribed with the Hong Kong public offering portion 963.56 times subscribed.

The strong investor demand and substantial premium at opening reflect market optimism toward the company's prospects as it begins trading on the Hong Kong bourse.