Chinese Medical Equipment Maker Jumps 41% in Hong Kong Debut (1)

Chinese medical equipment maker and distributor Zylox-Tonbridge Medical Technology Co. jumped in its Hong Kong debut after a highly-sought after share sale.

Zylox-Tonbridge’s shares opened at HK$55 and climbed further to end the day at HK$60, up about 41% from their offer price of HK$42.7 apiece. The IPO raised $330 million after being priced at the top of an indicative range and the retail tranche was 1,190 times subscribed.

The Hangzhou-based firm’s first-day pop follows a strong debut by Hutchmed China Ltd., a cancer drug developer backed by billionaire Li Ka-shing, which saw its shares surge 50% on June ...