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Liumei shares surge to HK$124.9 in Hong Kong debut after HK$43.58 IPO

Liumei shares surge to HK$124.9 in Hong Kong debut after HK$43.58 IPO

The plum snack maker debuted on the Hong Kong Stock Exchange main board on June 15, with shares rising about 193% as meme-driven interest linked its LLM ticker abbreviation to artificial intelligence terminology.

Fact Check
All three independent sources (Odaily, BlockBeats, PANews) confirm Liumei listed on the HKEX main board on June 15 at IPO price HK$43.58, with shares reaching HK$124.9 (intraday high / close ~125), and that the surge was driven by meme speculation over the LLM ticker abbreviation matching 'large language model.' The claimed figures of HK$124.9 and HK$43.58 and the June 15 debut all match the sources precisely. A search result independently confirms the HK$43.58 IPO price filed with HKEX (code 06658).
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Summary

Liumei (06658.HK), described as the “first plum snack stock,” began trading on the Hong Kong Stock Exchange main board on June 15 after pricing its IPO at HK$43.58. The shares opened at around HK$95 and were last trading at HK$124.9, implying a gain of roughly 193% on debut. The rally was attributed in part to meme-driven and “AI concept” speculation because the company’s abbreviation, LLM, matches “large language model,” while Hong Kong’s broader market also finished higher, with the Hang Seng Index up 0.5% and the Hang Seng Tech Index up 1.28%.

Terms & Concepts
  • large language model: AI system trained on vast text data.
  • IPO: Initial public offering of company shares.
  • listing debut: A stock's first day of trading on an exchange.