Shares of Shenzhen Dobot, a Chinese robotics manufacturer, soared 13.56% in intraday trading on Monday, marking a strong debut for the company on the Hong Kong stock exchange.
The robust rally came after Shenzhen Dobot priced its Hong Kong initial public offering (IPO) at the lower end of its indicative price range, raising HK$681.4 million in net proceeds. The company sold 40 million shares at HK$18.80 per share, attracting significant investor interest.
The stock opened at HK$19.70, up 5% from its IPO price, and continued its upward trajectory throughout the session. The strong demand for Shenzhen Dobot's shares underscores investor confidence in the growth prospects of the robotics industry and the company's positioning within this rapidly evolving sector.
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