Shares of offshore wind equipment supplier Dajin Heavy Industry Co. Ltd. (1081.HK; 002487.SZ) finished flat in their Hong Kong trading debut on Friday, falling in the morning before rebounding later in the day to close at HK$66.40, the same as their offer price.
The company said it sold 100 million Hong Kong-listed H-shares for HK$66.40 each, raising net proceeds of about HK$6.47 billion ($826 million). The Hong Kong public offering for local investors was oversubscribed by more than 130 times, while the international offering was oversubscribed by more than 10 times.
Founded in 2003, Dajin Heavy provides integrated solutions covering the manufacture, transport and delivery of offshore wind foundations. The company was listed on the Shenzhen Stock Exchange in 2010, becoming China’s first publicly listed wind tower and monopile manufacturer.
According to third-party market data in the prospectus, Dajin Heavy was the largest supplier of offshore wind foundations in Europe by monopile sales in the first half of 2025, with a market share of 29.1%. It is also the only supplier in the Asia-Pacific region to achieve large-scale monopile deliveries to Europe.
The company plans to use 55% of the IPO proceeds to upgrade its deep-sea integrated solutions capabilities, 20% for developing a European assembly base, 10% for R&D and the remainder for overseas market expansion and general corporate purposes.
By Lee Shih Ta
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