Shares of Lens Technology (06613.HK) surged 5.17% in their Hong Kong trading debut on Wednesday, significantly outperforming the company's initial 1% rise at the market open. The strong performance comes on the heels of a highly successful initial public offering (IPO) that raised HK$4.69 billion in net proceeds.

The precision manufacturing solutions provider, already listed in Shenzhen, priced its Hong Kong offering at HK$18.18 per share, the top end of the indicative range. The IPO garnered substantial interest, with the Hong Kong public offering portion being 462.76 times oversubscribed. This overwhelming demand led to a reallocation of shares from the international tranche to the local offering.

Adding to investor confidence, the IPO attracted notable cornerstone investors, including UBS Asset Management, Oaktree Capital Management, and tech giant Xiaomi Corp. These high-profile backers collectively took up 31.45% of the total offering, signaling strong institutional faith in Lens Technology's prospects.

While Lens Technology faces challenges such as high customer concentration and intensifying industry competition, its successful dual listing and the enthusiastic market response suggest investors are optimistic about the company's future in the consumer electronics components sector. As trading continues, market participants will be closely watching how Lens Technology leverages its newly raised capital to address these challenges and capitalize on the growing demand for smart gadgets.