The stock showed strong momentum on its debut, opening at HK$581, representing almost an 80% increase over the IPO offer price.
Sigenergy Technology today successfully listed on the Hong Kong Stock Exchange (HKEX), marking a milestone in the company’s business development.
The Company says it is the first ‘AI+ All-in-One PV Storage’ company to be listed on the HKEX.
For an instance, its flagship product SigenStor is a five-in-one system that combines an inverter, EV DC charging module, and battery pack into a modular, stackable unit which achieves an integration of power electronics, cloud and AI technologies. The Company claims that it enhances product performance and delivers a more convenient user experience.
Market capitalisation of Sigenergy exceeded HK$140 billion on the listing day.
Based on the offer price of HK$324.20 per share, the company raised over HK$4.4 billion in its IPO.
There is also a greenshoe option, which if exercised in full, the total proceeds will reach HK$5.06 billion according to the company.
Mr. Tony Xu, Founder and CEO of Sigenergy, said, “We sincerely thank our investors, partners, advisors, global distributors and installers, as well as all Sigenergy employees for their trust and support. This listing marks a new starting point. We will remain committed to strengthen our capabilities in energy storage, and invest in innovation to deliver more competitive solutions. We aim to create long-term value for our customers, shareholders and partners, while contributing to the industry and society.”
Sigenergy’s IPO says it received full support from global capital, including sovereign wealth fund Temasek, international asset management institutions such as Goldman Sachs, UBS and BNP Paribas. It also gathered investments from Hillhouse, CPE, Boyu Capital, Gaoyi Asset Management, and Greenwoods Asset Management, as well as insurance funds like CPIC and Fullgoal Fund.
The Company says it has driven the market through product innovation since its inception.
They have leveraged modular design and AI-driven technologies to expand across residential, commercial and industrial, and utility-scale applications.
The Company claims to employ over 1,000 professionals worldwide, and their operations span around more than 80 countries and regions.
Sigenergy has its core manufacturing and R&D base in China.
