China’s Third-Biggest IPO of the Year Doubles in Trading Debut

IPOs are hot on the Chinese mainland, despite a slump in traditional venues. Photo: Bloomberg

(Bloomberg) — Shares of Hygon Information Technology Co. Ltd., a maker and distributor of computer components, doubled in their Shanghai debut, heading for this year’s second-best opening performance among large listings in China.

The stock soared as much as 105% to 73.80 ($10.92) yuan. Hygon’s offering raised 10.8 billion yuan following the sale of 300 million shares at 36 yuan each. It’s the largest debut for the Nasdaq-like Star Board in 2022.