Zhida Technology, a Shanghai-based provider of home charging solutions for electric vehicles, surged 192.14% to HK$195.5 ( US$25.12 ) on its first day of trading on the Hong Kong Stock Exchange on October 10.

From a listing price of HK$66.92, the shares reached a peak of HK$197 and a low of HK$171.2. At the end of the day, Zhida had a market value of HK$11.68 billion.

The company earlier raised over HK$400 million in its initial public offering.

Shenwan Hongyuan Financing Services was the sole sponsor, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager of the IPO. Paul Hastings advised Shenwan Hongyuan and other underwriters in the offering.