Stock Track | ZHIHUI MINING Soars 132.82% in Debut as IPO Opening Price Doubles Offer
Stock Track
Dec 19
ZHIHUI MINING (02546) surged 132.82% during the intraday session on Friday, marking a dramatic debut on the Hong Kong Stock Exchange. The stock opened at HK$10.8 per share, more than double its final offer price of HK$4.51 set in its global offering.
The surge reflects overwhelming investor demand, with the Hong Kong public offer oversubscribed by 5,248.15 times and the international offering 2.68 times subscribed. The IPO raised HK$495.1 million, with cornerstone investors like Sparky International and GIGA Industries securing 40.78% of the shares.
The strong debut underscores market confidence in the mining company, driven by robust subscription rates and strategic investor participation.
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