A 177% debut surge on Wednesday by Excelland Robotics Wuxi Co. is putting a spotlight on Hong Kong’s rules for allocating shares in initial public offerings after the listing left almost 94% of the shares in institutional hands despite strong demand from retail investors.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-09-10/hong-kong-ipo-s-177-pop-highlights-quirk-in-allocation-rules)