DEEPEXI TECH (01384.HK) made a spectacular debut on the Hong Kong Stock Exchange, with its shares soaring 121.31% in early trading on Tuesday. The strong performance comes after the company's highly anticipated initial public offering (IPO) saw overwhelming demand from investors.

The artificial intelligence application provider priced its IPO at HK$26.66 per share, offering a total of 26,632,000 H shares. The Hong Kong public offering portion, which accounted for 20% of the total offering, was massively oversubscribed by 7,569.83 times. The international offering, comprising 80% of the shares, was oversubscribed by 16.61 times, highlighting the strong investor interest in the company.

DEEPEXI TECH raised approximately HK$609.77 million in net proceeds from the global offering, after deducting estimated listing expenses. The exceptional demand for the company's shares and its focus on the rapidly growing AI sector likely contributed to the strong debut. As the stock begins trading, investors will be closely watching to see if DEEPEXI TECH can maintain its momentum in the competitive tech landscape.