China’s Third-Biggest IPO of the Year Surges in Trading Debut

Shares of Hygon Information Technology Co., a maker and distributor of computer components, surged in their Shanghai debut, making them this year’s second-best opening performance among large listings in China.

The stock closed 67% higher at 60.10 yuan after soaring as much as 105% shortly after open. Hygon’s offering raised 10.8 billion yuan ($1.6 billion) following the sale of 300 million shares at 36 yuan each. It’s the largest debut for the Nasdaq-like Star Board in 2022.

The Beijing-based company executed this year’s third-largest listing in the Asian country, where big offerings are flourishing despite a slump in traditional ...