Sigenergy Jumps 103% in Hong Kong Debut After $562 Million IPO

Shares of Sigenergy Technology Co., a Chinese maker of energy storage equipment, jumped in their Hong Kong trading debut Thursday after the company raised HK$4.4 billion ($562 million) in an initial public offering, a sign of investor demand in an industry swept up in a frenzied rally.

The shares closed at HK$659.50, up 103% from their IPO price of HK$324.20 each. The listing attracted more than a dozen cornerstone investors — which get guaranteed allocation in exchange for holding the shares for a period of time — including a Temasek unit, Goldman Sachs Assets Management and Hillhouse Group, which together subscribed for roughly half of the offering. The stocks jumped more than 100% in gray-market trading before the debut.