New stock listing | 5 stocks debut, Ruiwei Technology closed down 3%

Five new stocks made their debut on the first day with varied performances.

Visual AI company Ruiwei Technology (07656) hit a low of HK$15.6, down 27.98% from the IPO price of HK$21.66; closed at HK$21, down 3.05%. One board lot of 200 shares, resulting in a paper loss of HK$132.

Silicon carbide power device maker Basic Semiconductor (09971) hit a high of HK$37.38, up 18.22% from the IPO price of HK$31.62; closed at HK$33.22, up 5.06%. One board lot of 200 shares, resulting in a paper gain of HK$320.

Autonomous driving system developer Yikong Zhijia (07687) hit a high of HK$101.2, up 15.1% from the IPO price of HK$87.92; closed at HK$96.7, up 9.99%. One board lot of 50 shares, resulting in a paper gain of HK$439.

Autonomous driving company Momenta (06880) hit a high of HK$314.8, up 6.5% from the IPO price of HK$295.6, closing flat.

Hong Kong's second GEM stock of the year, Baogai New Materials (08090), hit a high of HK$7, up 12.54% from the IPO price of HK$6.22; closed at HK$6.43, up 3.38%. One board lot of 500 shares, resulting in a paper gain of HK$105.

Ruiwei Technology raised net proceeds of approximately HK$529 million, with the public offering oversubscribed by 3,645.06 times and a one-lot allotment rate of 3%. Basic Semiconductor raised net proceeds of approximately HK$766 million, with the public offering oversubscribed by 4,811.72 times and a one-lot allotment rate of 0.17%.

Yikong Zhijia raised net proceeds of approximately HK$2.17B, with the public offering oversubscribed by 156.82 times and a one-lot allotment rate of 10%. Momenta raised net proceeds of approximately HK$5.66B, with the public offering oversubscribed by 412.63 times, a one-lot allotment of 20 shares, and an allotment rate of 5%.

Baogai New Materials raised net proceeds of approximately HK$69.4 million, with the public offering oversubscribed by 3,014.69 times and a one-lot allotment rate of 0.5%.