Chinese energy storage firm Sigenergy has ignited a market frenzy with its initial public offering (IPO) plan in Hong Kong, drawing an oversubscription of over 1,000 times, while its listed peer Guoxia Technology enjoyed a rally, as the duo capitalise on the artificial intelligence boom.
Shanghai-based Sigenergy, which aims to raise HK$4.4 billion (US$561.6 million) in its IPO, is expected to be 1,414 times oversubscribed, as retail investors borrowed HK$358.6 billion from 17 brokerages,…
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