China's Sigenergy jumps 85% in Hong Kong debut after $562 million IPO (updated)

Sigenergy Technology

16/04/2026 02:44

Updates with shares close performance in headline and paragraph 1-2

By Donny Kwok and Yantoultra Ngui

HONG KONG/SINGAPORE, April 16 (Reuters) - Sigenergy Technology 6656.HK, a Chinese energy storage systems maker, ended 103.4% higher in its Hong Kong market debut on Thursday after raising HK$4.4 billion ($562 million) in an initial public offering.

The shares opened 79.2% higher at HK$581 per share versus a HK$324.20 listing price, and hit the highest at HK$669 before ending at HK$659.5 with 7.71 million shares worth HK$4.6 billion changing hands. It was the fourth most actively traded stock by turnover on Hong Kong bourse.

The Shanghai-based company sold 13.57 million shares at HK$324.20 each, according to its prospectus. The public offering was 1,102.05 times subscribed, while the international offering was 31.2 times subscribed, a filing on Thursday showed.

Sigenergy develops and manufactures smart energy storage systems, including battery products, inverters and energy management software, serving residential and commercial customers as demand for clean energy solutions rises.

It plans to use the listing proceeds for research and development, marketing and after-sales services, production expansion, broader commercial and industrial energy storage offerings, and working capital.

Cornerstone investors included Aranda, Goldman Sachs Asset Management, Hillhouse, UBS Asset Management, AXA IM, CPE Energy and Barings.

Joint sponsors were CITIC Securities and BNP Paribas, with CICC also on the deal, its prospectus showed.

The deal adds to a busy Hong Kong new listings market. Victory Giant 300476.SZ is due to debut on Tuesday of next week, followed by Huaqin Technology 603296.SS on Thursday.

($1 = 7.8327 Hong Kong dollars)

 (Reporting by Donny Kwok in Hong Kong and Yantoultra Ngui in Singapore; Editing by Jacqueline Wong, Kevin Buckland and Louise Heavens)

 ((Yantoultra.Ngui@thomsonreuters.com;))