Chinese markets are booming with new public stock offerings, energized by the craze for artificial intelligence and other advanced technology and a growing preference to list shares in Hong Kong and Shanghai.
In the latest big stock listing, shares in China-founded e-commerce and fast fashion giant Shein are due to debut Tuesday in Hong Kong in a blockbuster initial public offering raising $1.7 billion, in one of the city’s biggest new share sales this year.
In July, CXMT, China’s largest memory chipmaker, raised more than $8.6 billion in Shanghai in the second-largest IPO for its Nasdaq-style STAR market, mainland China’s second-largest IPO. Its shares jumped 466% on the first day of trading.
Unitree, one of China’s leading humanoid robot makers, also made its listing debut in Shanghai in August. Shares rose 460% on the first day of trading.
“The current IPO boom is powered by investor appetite for AI and robotics,” said Ruiying Zhao, a senior research analyst at S&P Global Market Intelligence. Trading in Shanghai’s stock market, for one, is heavily driven by retail investors.
