Three Tech IPOs Debut in Hong Kong With Mixed Performances
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Zhipu AI, along with a domestic GPU maker and a surgical robotics company, showed sharply divergent performances in their Hong Kong trading debuts on Thursday, with the generative AI firm posting modest early gains while the other two stocks surged.
Zhipu AI, one of China’s “Six Tigers” in the AI sector, opened around 3.3% higher and overcame an initial dip below its offering price of HK$116.2 to trade up 8.43% at HK$126 per share as of Thursday morning. The listing comes as China’s large language model sector turns to public markets to fund the immense capital requirements of the global AI arms race.
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- Zhipu AI opened 3.3% higher and traded up 8.43% at HK$126 in its Hong Kong debut.
- Shanghai Iluvatar CoreX Semiconductor and Shenzhen Edge Medical surged 31.5% and 36.4%, respectively, on opening.
- Institutional investors showed caution about Zhipu’s valuation, with some skipping the IPO due to pricing concerns.
- Zhipu AI
- Zhipu AI is a generative AI firm and one of China's "Six Tigers" in the AI sector. It recently debuted on the Hong Kong stock exchange, opening with modest gains and trading up 8.43% at HK$126 per share. This public listing aims to secure funding for the capital-intensive global AI arms race. However, institutional investors expressed caution regarding Zhipu AI's valuation.
- Shanghai Iluvatar CoreX Semiconductor Co. Ltd.
- Shanghai Iluvatar CoreX Semiconductor Co. Ltd. (上海邃思科技有限公司) is an AI startup that experienced a strong debut on the Hong Kong stock exchange. Its shares opened 31.5% higher than their offering price, indicating a positive market reception for the company.
- Shenzhen Edge Medical Co. Ltd.
- Shenzhen Edge Medical Co. Ltd. is a surgical robotics company that saw a strong performance in its Hong Kong trading debut. The company's stock opened 36.4% higher than its offering price, indicating significant investor interest.
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