Golden Leaf International Group (08549.HK) saw its shares soar an astonishing 520% in pre-market trading on Friday, following an unprecedented oversubscription of its initial public offering (IPO). The company's debut on the Hong Kong Stock Exchange has captured the attention of investors and market watchers alike, setting new records in the process.

The meteoric rise comes after Golden Leaf International Group's public offering was oversubscribed by more than 9,030 times, making it the most oversubscribed new stock in Hong Kong stock market history. This extraordinary level of investor interest underscores the robust appetite for new listings in Hong Kong, despite global economic uncertainties.

The exceptional performance of Golden Leaf International Group is part of a broader trend of increased IPO activity in Hong Kong. According to recent data, the first three quarters of 2025 saw 68 new stocks listed on the Hong Kong stock market, raising a total of HK$182.45 billion. This represents significant year-on-year increases of 51% in the number of listings and 227% in funds raised. The strong showing has led Deloitte China's Capital Markets Services to revise its forecast for Hong Kong's new stock market financing scale for the full year 2025, now expecting it to reach HK$250-280 billion.