Star Sports Jumps 117% as Hong Kong Debut Frenzy Extends

Shares of Star Sports Medicine Co., a maker of medical devices, surged 117% in their Hong Kong trading debut on Tuesday, extending a run of hot first-day performances in the city.

The stock climbed to as high as HK$299 in early trading and closed at HK$215, compared with an initial public offering price of HK$98.50 per share, giving it a market value of $1.5 billion. Strong investor demand helped the company raise HK$829.6 million ($106 million), with its retail portion subscribed more than 7,823 times.