DAHON TECH (02543), mainland China's largest folding bicycle company, saw its stock price soar by 5.27% during Monday's morning trading session. This significant uptick comes on the heels of a major share transfer reported late last week, signaling increased institutional interest in the recently listed company.

According to data from the Hong Kong Stock Exchange, a substantial 13.11% stake in DAHON TECH, valued at approximately HK$52.3476 million, was transferred from Citibank to Goldman Sachs (Asia) Securities on September 12. This move by a prominent financial institution appears to have boosted investor confidence, contributing to today's price surge.

DAHON TECH, which ranks first in both retail volume and retail value of folding bicycles in China as of 2024, has been attracting significant attention since its initial public offering. The company's IPO was notably oversubscribed by 7,558.4 times, breaking the previous Hong Kong stock market record and earning it the title of the new "oversubscription king." This strong market debut, coupled with the company's leading position in a growing industry segment, may be fueling the positive sentiment among investors. As the stock continues to gain traction, market participants will be closely watching for any further developments or institutional movements in DAHON TECH's shares.