Ligent Technologies jumps in Hong Kong debut, outpacing key indices

Ligent Technologies, a Chinese fibre-optic communications equipment maker, made a strong debut on the Hong Kong stock market on Tuesday, with its shares jumping 19.2% to HK$39.3 a share. The company raised HK$5.67 billion ($722.70 million) through its share sale, which saw a market value of about HK$32.4 billion at the offer price.

The Hang Seng Index and the Hang Seng Tech Index both saw modest gains of 0.1% and 1% respectively, indicating a positive market sentiment. Cornerstone investors included prominent names such as Primavera Investment Fund, GigaDevice, and Amlogic Hong Kong, with the public offering being subscribed 35.16 times and the international offering 4.67 times.

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