With total assets of $53.7 billion, FWD Group has launched its fourth IPO attempt in Hong Kong, tapping into surging investor interest following battery giant CATL’s landmark listing.

Shares in CATL closed 16% higher on their Hong Kong debut on Tuesday after the Chinese electric vehicle battery giant raised $4.6 billion in the world's largest listing this year, boosting prospects for equity sales by Chinese companies.

Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg.

Shares of the restaurant chain began trading at HK$7.19 per share, unchanged from the offer price, before plunging 7 per cent to an intraday day low of HK$6.69.

The world’s biggest IPO this year excludes U.S. onshore investors. The decision reduces geopolitical risks that loom over Chinese battery maker Contemporary Amperex Technology's $4 billion Hong Kong debut.

This week, CATL, a leading domestic lithium battery company, launched its Hong Kong IPO, heating up the lithium battery sector.