BRIEF: Able Digital jumps in Hong Kong trading debut
Shares of digital teaching and learning solutions provider Shanghai Able Digital Science & Tech Co. Ltd. (2687.HK) jumped in their Hong Kong trading debut on Monday, as the company raised HK$450 million ($58 million) after selling 6.67 million shares for HK$67.50 apiece.
The stock opened higher, and was up 26.2% at HK$85.20 midway through the Monday afternoon trading session. The Hong Kong portion of the listing for local investors was more than 4,000 oversubscribed, while the international portion was 1.3 times oversubscribed.
Able Digital will use 36.7% of the IPO proceeds for R&D, while another 31.8% will go to enhancing its customers service capabilities. The company’s revenue rose 14% year-on-year in the first half of 2025 to 275 million yuan, while its net loss for the period widened to 99 million yuan ($14 million) from 88.9 million yuan a year earlier.
By Doug Young
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