On October 2nd, Chinese luxury watch brand HIPINE, which debuted on Tuesday, continued its remarkable rally after surging nearly 260% on its first trading day. The stock climbed as much as 72.5% this morning to HK$182.8, representing a spectacular 5.2-fold increase from its IPO price of HK$29.6. As of press time, HIPINE was trading up 66.51% at HK$176.5.

During the public offering phase, HIPINE attracted overwhelming investor interest with 2,505.9 times oversubscription. The final allocation for the public offering comprised 1.06 million shares, representing approximately 10% of the total offering. The company received around 160,900 valid applications, with 9,468 applications being processed. Investors applying for one board lot had approximately a 1% chance of receiving share allocation.

In the international placement segment, HIPINE secured 3.9 times oversubscription. The international offering ultimately consisted of 9.54 million shares, accounting for 90% of the total share offering.