Tencent-backed Yidu Tech surges 148% in Hong Kong debut

Hong Kong

YIDU Tech, which offers artificial intelligence and big data products to the healthcare industry, saw its shares jump 148 per cent in its Hong Kong debut after a HK$4.12 billion (S$706 million) initial public offering (IPO) that saw overwhelming demand from investors.

Yidu Tech shares closed at HK$65.2, after rising as high as HK$69.8, a massive jump from the IPO price of HK$26.30. The company sold about 156 million shares at the top of a marketed range.