Manycore Tech Inc., known as Geekplus Technology, began trading on the Hong Kong Stock Exchange on April 17, 2026, under the ticker 00068.HK. The company priced its initial public offering at the top of its indicated range, 7.62 Hong Kong dollars per share, raising approximately 1.224 billion Hong Kong dollars in gross proceeds.
On its debut, the stock surged more than 160 percent at the open, reaching intraday highs that pushed its market value close to 35 billion Hong Kong dollars. By midday, shares had gained 135.96 percent to trade at 17.98 Hong Kong dollars.
The offering drew intense demand, with the public portion in Hong Kong attracting subscriptions equivalent to 1,591 times the shares on offer and the international tranche seeing 14.46 times oversubscription. Anchor investors included major insurers, asset managers and strategic partners, collectively subscribing for 455 million Hong Kong dollars worth of shares.
Geekplus Technology describes itself as the world’s first publicly traded company focused on spatial intelligence, a technology it says bridges digital and physical worlds through applications in 3D content creation, industrial simulation and autonomous systems. The firm traces its origins to 2011 and has previously received backing from venture capital firms such as Sequoia China, IDG Capital and Hillhouse Ventures.
The listing marks the first initial public offering among the so-called “Hangzhou Six Little Dragons,” a group of prominent technology startups from the city that have attracted significant investor attention in recent years.
