China's GIGADEVICE stock soared 47% on debut in the Hong Kong on Tuesday.
Founded in 2005, GigaDevice is a fabless semiconductor company specializing in flash memory products, including SPI NOR flash, as well as microcontrollers and related solutions used in consumer electronics, industrial control, and automotive applications. The firm has positioned itself as one of China's leading memory chip designers amid Beijing's broader push to strengthen domestic semiconductor capabilities.
The deal comes as Chinese chipmakers race to tap capital markets, encouraged by a recent surge in successful listings in Hong Kong. According to market observers, improving investor sentiment toward technology and AI-related stocks has helped revive the city's IPO pipeline after a prolonged slowdown.
Malaysian civil engineering contractor BBSB INTL stock soared 213% on debut in the Hong Kong.
The Group is an established civil engineering contractor in Malaysia with over 16 years of experience, specialising in providing bridge engineering services as a subcontractor for large-scale transportation infrastructure engineering projects owned or initiated by the government or government-linked companies in Malaysia. The Group's business provides 2 categories of services:
Bridge engineering works which primarily involve (i) the design and construction of girder bridges; and (ii) construction of the connecting highways, roads and facilities ancillary to the girder bridge, such as drainage, sewerage, lightings and signages; and
Floor mitigation works, focusing on the design and construction of flood mitigation structural solutions to reduce flooding risks.
During the Track Record Period, the Group has completed 2 transportation infrastructure engineering projects. Project JB25, which involved step-in works to assist in the completion of certain outstanding work along the SUKE Highway, had a total contract value of approximately RM33.1 million. Project JB30, involving the construction of earth work and drainage works along Raub Bypass, had a total contract value of RM25.0 million. As at the Latest Practicable Date, the Group has 5 ongoing projects with a total contract value of approximately RM723.5 million.
HX COLDCHAIN rose 14% on debut in the Hong Kong.
HX COLDCHAIN is a Chinese logistics services provider specializing in integrated frozen food storage and space leasing. Headquartered in Changsha, Hunan province, the company operates a business model that connects wholesalers and retailers by combining cold storage facilities with trading space leasing. According to the CIC Report cited in its filings, the company was the largest frozen food storage service provider in Central China and the leading provider of frozen food space leasing services in Hunan province by revenue in 2024. Its facilities in Changsha offer a designed storage capacity exceeding one million cubic meters.