Shenzhen Hipine Precision Technology (HKG:2583) made a spectacular debut on the Hong Kong Stock Exchange on Tuesday, with its shares soaring 170.27% in early trading. The gold-case watch designer and maker's stock opened at HK$84 per share, compared to its initial public offering (IPO) price of HK$29.60, reflecting strong investor enthusiasm for the company.

The impressive debut follows a highly successful IPO that raised HK$268.6 million in net proceeds. Shenzhen Hipine priced its offering at HK$29.60 per share, the top end of the indicative range, signaling robust demand. The Hong Kong public offer portion was significantly oversubscribed, with a staggering 2,505.9 times oversubscription rate. Meanwhile, the international placement was 3.9 times oversubscribed, further demonstrating the strong interest from both retail and institutional investors.

The company's strong market debut and the substantial premium to its IPO price suggest that investors are optimistic about Shenzhen Hipine's growth prospects in the luxury watch components sector. As trading continues, market participants will be closely watching to see if the stock can maintain its momentum and whether it signals a broader appetite for new listings in Hong Kong's IPO market.