Five Hong Kong IPOs Debut with Mixed Performance; Momenta Raises HK$5.66 Billion

Five Hong Kong-listed companies debuted today (July 8), with mixed first-day performance. Visual AI firm Rewatech (HKEX: 7656) closed down 3.05% at HK$21, significantly below its HK$21.66 offer price, after falling as low as HK$15.6. The company raised net proceeds of HK$529 million with public offering oversubscription of 3,645 times.

Autonomous driving developer Momenta (HKEX: 6880) closed flat at HK$295.6 offer price, raising HK$5.656 billion with oversubscription of 412.63 times, the largest IPO among the five. In contrast, Yikongzhijia (HKEX: 7687) gained 9.99% to close at HK$96.7, while BasicSemiconductor (HKEX: 9971) rose 5.06% to HK$33.22.