Aux Electric opens 7.6% lower in HK trading debut

Aux Electric opens 7.6% lower in HK trading debut

Aux Electric Co., Ltd. (02580.HK), a leading manufacturer of air conditioners, made its public debut in Hong Kong's stock market today. The company's IPO, which raised approximately HKD 4.15 billion, saw its shares trade 7.6% lower than the offer price during its first day of trading. The IPO, which was underwritten by China International Capital Corporation (CICC), attracted significant interest from institutional investors, including PSBC Asset Management, which subscribed for around HKD 974 million worth of shares.

The company offered 207.16 million shares, with 5% allocated for the Hong Kong public offering and 95% for international investors. The offer price ranged from HKD 16 to HKD 17.42 per share, with the initial public offering (IPO) starting today and closing at noon this Thursday. The listing on the Hong Kong Stock Exchange is expected on September 2, 2025.

The IPO attracted six cornerstone investors, including PSBC Asset Management, which subscribed for approximately 58.2972 million shares, accounting for about 28.1% of the offered shares. The entry fee was HKD 3,519.14 with a board lot size of 200 shares. The IPO's success indicates strong investor confidence in the company's growth prospects and market potential.

Despite the initial dip in share price, Aux Electric's trading debut is a significant milestone for the company. The IPO will provide the necessary capital to support the company's expansion plans and further its market leadership in the air conditioning industry. Investors will closely monitor the company's performance in the coming days to gauge its potential for future growth.

References:
[1] https://www.marketscreener.com/news/aux-electric-co-ltd-has-completed-an-ipo-in-the-amount-of-hkd-4-150057-billion-ce7c50d2d08df727
[2] https://www.aastocks.com/en/stocks/news/aafn-con/NOW.1463811/popular-news/AAFN