Overview

• Midea's shares surged nearly 9% on their first trading day in Hong Kong, closing at HK$59.20.
• The IPO raised approximately US$4 billion, making it Hong Kong's largest since 2021.
• Strong demand led to the overallotment of shares, potentially increasing the total raised to US$4.6 billion.
• The listing has revitalized hopes for Hong Kong's IPO market, which has seen a decline in recent years.
• Midea's successful debut could pave the way for more major Chinese companies to list in Hong Kong.