Semiconductor equipment manufacturer Hwatsing Technology Co. Ltd. booked a blistering Shanghai STAR Market IPO debut on Wednesday amid a Covid-induced global shortage of microchips.
The Tianjin-based firm’s shares surged 72% in early trading but gave back some of those gains over the course of the day to close up 64% at 224.1 yuan ($33.5), valuing Hwatsing at about 23.9 billion yuan.