BRIEF: Deepexi shares double in Hong Kong debut

1384.HK

Shares of enterprise AI solutions provider Deepexi Technology Co. Ltd. (1384.HK) opened 112% higher in their Hong Kong trading debut on Tuesday and continued to rise before closing up 121.31% at HK$59 at the midday break.

The company sold 26.6 million shares for HK$26.66 each, raising net proceeds of HK$610 million ($79 million). The Hong Kong portion of the offering for local investors was more than 7,500 oversubscribed, resulting in an increase for that portion of the offering from 5% to 20% of total shares on offer. The international offering was also oversubscribed by more than 15 times.

Deepexi provides AI solutions to enterprise clients across multiple sectors, including consumer retail, manufacturing, healthcare and transportation. In the first half of this year, the company’s revenue surged 118.4% year-on-year to 132 million yuan, while its gross profit margin improved to 55%. Its net loss narrowed from 620 million yuan in the first half of 2024 to 310 million yuan in the same period this year.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here

, ,
, , ,

Related Articles

RELATED ARTICLES

  1. BRIEF: Deepexi Technology launches $90 million IPO
    1384.HK
  2. BRIEF: Butong shares jump in Hong Kong trading debut
    9060.HK
  3. BRIEF: GenFleet shares double in heavily oversubscribed IPO
    2595.HK
  4. BRIEF: Aux shares slump in Hong Kong trading debut
    2580.HK
  5. BRIEF: Fortior shares jump in Hong Kong trading debut
    1304.HK
    688279.SHG
  6. BRIEF: Medtide rises in Hong Kong trading debut
    3880.HK
  7. Nova Insight steps out from parent’s shadow with IPO plan
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Geneplus IPO

Geneplus locks onto targeted medicine for IPO pitch

After a post-Covid earnings dip, the company is seeking a stable future as a provider of data and diagnostics for precision medicine and disease prevention   Key Takeaways: The company’s…

Hong Kong’s IPO rally under scrutiny, as ZTE hits new U.S. headwinds

Hong Kong's stock regulator has warned IPO underwriters over the declining qualiy of new listing applications. Is this a red flag for the city's booming IPO market, or just the usual regulatory caution? And the U.S. could fine telecoms equipment maker ZTE $1 billion for bribery in Brazil. Why does Washington think it can force ZTE to pay such a large amount?