Media365
Shares of Chinese aviation and aerospace parts supplier Shanghai Top Numerical Control Technology ended 80 per cent higher on its debut in Hong Kong on Wednesday, as investors continue to bet on the commercial aerospace sector.
Top Numerical Control opened at HK$37 per share on its first day of trading, representing a 40.2 per cent premium to the offer price of HK$26.39. It reached as high as HK$48.40 in afternoon trade, before closing at HK$47.50.
The Shanghai-based company issued 65.33 million shares in Hong Kong, raising a total of HK$1.72 billion (US$219.6 million).
During the bookbuilding phase in mid-May, Top Numerical Control received applications from 344,049 retail subscribers, marking an oversubscription rate of 3,764 times in the public tranche. The single-lot success rate was just 8 per cent.
The institutional segment attracted 104 international applications, representing an oversubscription rate of 29 times.
This strong interest was in line with an intensifying investor focus on global and domestic aerospace tech since late 2025. US reusable rocket giant SpaceX was reported to have targeted a record breaking US$75 billion from its initial public offering (IPO) slated for mid-June, while around 10 Chinese aerospace enterprises are concurrently pushing forward with listing preparations on mainland and Hong Kong bourses.
