(01:31 GMT) *Beijing Shougang Lanzatech Technology Shares Rise 85% to HK$27.02 From IPO Price in Trading Debut (02:42 GMT) Shougang LanzaTech Shares Rise Sharply in Hong Kong Debut
By Megan Cheah
Shares of Beijing Shougang LanzaTech Technology rose sharply in their Hong Kong trading debut, the latest in a steady stream of listings in the city this year.
The stock more than doubled to 29.98 Hong Kong dollars from its initial-public offering price in early trade on Wednesday, before paring gains to trade 43% higher.
The Chinese biofuels producer raised around HK$486.5 million, equivalent to US$62.1 million, in net proceeds from its sale of 40 million shares at HK$14.60 each.
Shougang LanzaTech's IPO adds to the wave of offerings in Hong Kong this year. Funds raised through IPOs in the city in the first four months of 2026 totalled HK$151.4 billion, surging from HK$21.5 billion in the same period a year earlier, data from Hong Kong Exchanges & Clearing showed.
The company said it plans to use the proceeds for building and upgrading production facilities, as well as research and development. It is also investing in a gas company to be established by local authorities in China's Ningxia region for the construction of off-gas transmission pipelines.
Shougang produces low-carbon products such as ethanol and microbial protein using carbon capture technologies. Its ethanol products can be used as automotive fuel and as raw materials for perfumes and packaging materials, while its microbial protein products are used in agricultural planting and livestock breeding applications.
Write to Megan Cheah at megan.cheah@wsj.com