RelyEZ shares leap 129% on first day of Hong Kong trading
Chinese energy storage company RelyEZ rose 129% in its Hong Kong debut after raising $72 million in an IPO priced near the middle of its range, per Reuters.
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what happened
Shares of RelyEZ Energy Storage Technology opened at HK$21 and then climbed to HK$22.4, 129% above the HK$9.78 offer price, according to Reuters. The company raised HK$562.7 million, roughly $72 million, by selling 57.54 million shares. Pricing landed close to the midpoint of the marketed range.
Demand was intense: the retail tranche was oversubscribed almost 1,389 times, while the international offering was covered 1.3 times. The Hang Seng Index also gained 1% that day. The firm plans to put the money into developing storage hardware and software, expanding abroad, building a plant in Wuzhen in eastern China, and topping up working capital. Cornerstone investor CDH Global Frontier Ventures took 3.21 million shares, about HK$31.4 million at the offer price, using an exchange rate of 7.8396 Hong Kong dollars to the US dollar.
why it matters
A debut gain of this size and heavy retail oversubscription point to strong investor appetite for energy storage names on the Hong Kong exchange. Early first-day jumps often fade, so these figures reflect initial enthusiasm rather than a settled valuation.
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sources
- Chinese energy storage firm RelyEZ jumps on Hong Kong debut — Reuters, 9 November 2026 at 01:48 UTC
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