By Tracy Qu
Shares of Excelland Robotics soared on their first trading day, joining a wave of companies that have made Hong Kong the world's busiest venue for public offerings.
The stock was last 172% higher at 39.50 Hong Kong dollars on Wednesday morning. The Hang Seng Tech Index was down 0.4%.
The company, which develops delivery robots deployed in locations such as hotels and hospitals, raised HK$650.2 million, equivalent to US$82.9 million, in gross proceeds, according to a filing Tuesday. The company issued 45 million shares at an offer price of HK$14.45.
The company plans to use the proceeds raised to advance core technologies and expand its business.
Funds raised through listings in Hong Kong totaled HK$342.4 billion in the first eight months of the year, more than double the amount raised in the same period a year earlier, data from Hong Kong Exchanges & Clearing showed.
Write to Tracy Qu at tracy.qu@wsj.com