Chinese energy storage firm Sigenergy's initial public offering (IPO) in Hong Kong has drawn massive investor interest, resulting in an oversubscription rate exceeding 1,000 times. The company aims to raise substantial capital while capitalizing on the growing artificial intelligence sector.

Chinese energy storage firm Sigenergy has ignited a market frenzy with its initial public offering (IPO) plan in Hong Kong, drawing an oversubscription of over 1,000 times, while its listed peer Guoxia Technology enjoyed a rally, as the duo capitalise on the artificial intelligence boom. Shanghai-based Sigenergy, which aims to raise HK$4.4 billion (US$561.6 million) in its IPO, is expected to be 1,414 times oversubscribed, as retail investors borrowed HK$358.6 billion from 17 brokerages,...