The Hong Kong Stock Exchange welcomed another “A+H” listing with the debut of Foshan Haitian Flavoring & Food Company on Thursday.

The company opened 3 percent higher than the offering price of HK36.3 ($4.6) per share. The public share offer was oversubscribed by more than 917 times.

With an allocation rate of just 5 percent for one lot, investors have to apply for 80 lots to ensure that they can obtain one lot. Each lot contains 100 shares.

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The company successfully raised a net amount of HK$10.1 billion by issuing a total of 279 million H shares.

Cheng Xue, chairwoman of the Chinese mainland’s largest condiment manufacturer, said listing on the Hong Kong Stock Exchange is a major milestone for the company.

“After listing, the company will continue to give returns back to investors through business development and contribute to the prosperity of the Hong Kong market. We will take root in the Chinese mainland market, adhere to long-term planning, go global, and accelerate the realization of the goal of serving customers globally,” Cheng said at the listing ceremony on Thursday.

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Haitian’s share price closed at HK$36.35 per share in the morning session, up 0.13 percent on the offering price, with a turnover of about HK$2.22 billion in the morning trading session.