Muyuan Foods' stock soared 5.03% during intraday trading on Friday, following its debut on the Hong Kong Stock Exchange.

The company raised approximately HK$10.7 billion ($1.4 billion) in its initial public offering, marking Hong Kong's largest share sale so far this year. The international offering was oversubscribed 8.62 times, indicating robust investor demand.

Muyuan, China's biggest pig breeder and global leader in hog farming, plans to use the proceeds for research and development in areas including breeding, smart farming, and biosecurity. Despite near-term earnings pressure from weak pork prices, the company's scale advantage and market position attracted cornerstone investors such as Charoen Pokphand Foods and Wilmar International.