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HKG:2723

5 stories mentioning HKG:2723Updated 19d ago

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Asia

Hong Kong Stocks Fall on Persian Gulf Ceasefire Doubts; Three Firms Shine on Debut

Hong Kong stocks fell sharply on Wednesday as elevated oil prices and uncertainty over the durability of the U.S.-Iran ceasefire weighed on sentiment.The Hang Seng Index fell 1.1%, or 271.22 points, to close at 25,328.23, while the Hang Seng China Enterprises Index dropped 1.3%, or 113.87 points, to finish at 8,463.02.Iran said Tuesday that the U.S. had violated the ceasefire by launching strikes near the contested Strait of Hormuz, raising fresh doubts over prospects for ending the conflict.Meanwhile, Israel launched more than 120 airstrikes across Lebanon on Tuesday in one of the heaviest waves of bombardment in weeks, according to Lebanese security sources, Reuters reported.Tehran has demanded an end to Israeli operations in Lebanon as part of any broader agreement.Meanwhile, oil prices retreated from recent highs, giving back part of the previous session's gains as traders looked for clearer signals on U.S.-Iran negotiations after renewed hostilities disrupted efforts to reopen the Strait of Hormuz.In corporate news, three companies made their debut on the Hong Kong bourse.Viewtrix Technology (HKG:3310) closed nearly 92% higher at HK$39.90, compared with its offer price of HK$20.81.Shenzhen SDMC Technology (HKG:0901) gained 87% to close at HK$61.20, versus its offer price of HK$32.80.Beijing DeepZero Technology (HKG:2723) advanced nearly 266% to end the session at HK$203, compared with its offer price of HK$55.50.

Hang SengHKG:0901HKG:2723HKG:3310
Asia

Beijing DeepZero Technology Surges 179% in Hong Kong Trading Debut

Beijing DeepZero Technology's (HKG:2723) shares opened 179.3% above their initial public offering price in a stellar Hong Kong debut on Wednesday morning.The Chinese AI-driven marketing technology company opened at HK$155.00 per share, compared with the offer price of HK$55.50.

HKG:2723
Asia

Beijing DeepZero Technology Raises HK$465 Million in Hong Kong IPO Ahead of Debut

Beijing DeepZero Technology (HKG:2723) raised HK$465.1 million in net proceeds from its initial public offering in Hong Kong.The final offer price was set at HK$55.50 per H-share, the top end of the offer price range, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.The Chinese AI-driven marketing technology company offered 9.1 million shares in the global offering.The Hong Kong public offer was 5,480.23 times subscribed, with a final allocation of 906,800 shares, representing 10% of the total offering.The international offering was 3.41 times subscribed, with a final allocation of 8.2 million shares, or 90% of the total offering.DeepZero Technology is set to debut on the Hong Kong bourse on Wednesday, May 27.

HKG:2723
Asia

Hong Kong Stocks Begin Week in Red; Three Mainland Firms File for IPO

Hong Kong shares fell Monday as the ongoing conflict in the Middle East showed no signs of letting up and a closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping failed to yield any major trade or geopolitical breakthroughs.The Hang Seng Index fell by around 287.55 points, or roughly 1.1%, to end at 25,675.18, while the Hang Seng China Enterprises Index decreased by 93.06 points, or also around 1.1%, to close at 8,597.97.Fresh drone attacks in the Gulf regions pushed oil prices and bond yields higher on Monday, according to a Reuters report. Investor sentiment was further dampened after President Trump warned that the "clock is ticking" before the U.S. launches harder strikes.Elsewhere, China and the U.S. agreed to establish Trade and Investment Councils, pursue reciprocal tariff reductions, and address non-tariff barriers on agricultural goods. China also pledged to address U.S. concerns on beef plant registrations and poultry exports.However, despite expectations of China buying "double-digit billions" in U.S. farm goods over three years, no details on products, prices, or volume have been released.In corporate news, three mainland firms filed to go public in Hong Kong while another made its trading debut.Chinese AMOLED display designer Viewtrix Technology (HKG:3310) said it was looking to raise HK$1.10 billion via the sale of 52.9 million shares at HK$20.81 apiece. Net proceeds will be used mainly to support the research and development and optimization of AMOLED TDDI chips, the firm said.Shenzhen SDMC Technology (HKG:0901), a Chinese smart home products provider, said it was targeting HK$630 million via an offer of 19.2 million shares at HK$32.80 apiece. Net proceeds will be used mainly to invest in AI home-related technologies, according to the firm.Meanwhile, Chinese AI-driven marketing technology company Beijing DeepZero Technology (HKG:2723) is seeking up to HK$503.3 million by going public in Hong Kong. The firm is offering 9.1 million shares at an indicative maximum price of HK$55.50 per share to raise funds for the research and development of its AI-powered marketing and sales application products.Elsewhere, Robotphoenix Intelligent Technology (HKG:6871) soared in its marketing debut after closing at HK$54.65 per share, 76% higher than the offer price of HK$30.50.

Hang SengHKG:0901HKG:2723HKG:3310HKG:6871
Asia

Beijing DeepZero Technology Seeks HK$503 Million in Hong Kong IPO

Beijing DeepZero Technology (HKG:2723) launched its Hong Kong initial public offering on Monday, seeking to raise up to about HK$503.3 million from the deal.The Chinese AI-driven marketing technology company is offering 9.1 million shares at an indicative maximum price of HK$55.50 per share, according to a Hong Kong bourse filing.The offering comprises 906,800 shares for Hong Kong investors and 8.2 million shares for international investors, subject to reallocation.The offer price is expected to be determined by May 22, with allocation results due by May 26, ahead of the company's planned trading debut on May 27.Net proceeds will be used mainly for research and development of the company's AI-powered marketing and sales application products, including upgrades to AI computing infrastructure and expansion of its research team.The funds will also be used to expand domestic and overseas sales networks, pursue strategic acquisitions, and for working capital and general corporate purposes.ICBC International Capital is acting as the sole sponsor, while ICBC International Securities is serving as the sponsor-overall coordinator and overall coordinator.ICBC International Securities, CCB International Capital, BOCOM International Securities, Victory Securities, and Guolian Securities International Capital are acting as joint global coordinators, joint bookrunners, and joint lead managers.Zhongtai International Securities, Futu Securities International (Hong Kong), Tiger Brokers (HK) Global, Get Nice Securities, Yuen Meta (International) Securities, and South China Securities are also acting as joint bookrunners and joint lead managers.

HKG:2723