Amtd Scores Year’s Biggest Debut Bump for US IPO of Its Size

Michael Hytha, Bloomberg News

(Bloomberg) -- Amtd Digital Inc. rose 108% after its US initial public offering, the biggest first-day jump for a listing of its size.

American depositary shares of Amtd Digital closed Friday at $16.21 after selling for $7.80 in the IPO. The company, which had marketed the shares for $6.80 to $8.20, sold 16 million shares to raise almost $125 million.

The debut showing was the best for a listing of more than $25 million on a US exchange this year, according to data compiled by Bloomberg. That compares with 11 listings of that size at this time last year that doubled or more on their first day of trading.

Amtd Digital is also the biggest IPO in the US this month, with a listings drought dragging on. The year’s 145 listings, including blank-check companies, have raised only $18.7 billion, compared with 648 IPOs totaling a record $219 billion at this point in 2021.

The Hong Kong-based financial services platform, with a market value of $3 billion, is trading on the New York Stock Exchange under the symbol HKD.