Shares of Chinese autonomous-driving firm Momenta opened 3% higher on the Hong Kong Stock Exchange on Wednesday, marking the company's public market debut.
The listing follows an initial public offering that priced shares at HK$295.60, valuing the firm and raising HK$5.89 billion ($751 million) in capital.
The modest first-day gain belies the intense demand seen during the subscription period.
According to earlier reports, the offering was oversubscribed 414 times, with nearly 210,000 orders placed by investors.
This level of interest underscores a shift in sentiment toward Chinese technology equities, which have faced headwinds in recent years due to regulatory scrutiny and geopolitical tensions.
Momenta's successful debut arrives as Hong Kong's listing market shows signs of recovery.