Six Hong Kong IPOs Close Tomorrow, Basic Semiconductors Records 1,637x Oversubscription

According to consolidated brokerage data, six Hong Kong IPOs will close subscriptions tomorrow, July 3, with Basic Semiconductors leading by a significant margin. The AI chip design company has attracted HK$704.75 billion in margin financing, equivalent to over 1,637 times oversubscription in the public offering. Momenta, an autonomous driving company, recorded HK$590.54 billion in margin financing, roughly 100 times oversubscription, while visual AI provider Ruiying Technology accumulated HK$226.32 billion, or approximately 743 times oversubscription. Brokers recommend diversifying applications across multiple identities to increase chances of allotment success.
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