Shares of Midea Group climbed 8% at the open in their Hong Kong trading debut on Tuesday after the Chinese home appliances maker raised nearly $4 billion in its listing. Midea, also listed in Shenzhen,

Midea Group, the Chinese home appliance giant founded by billionaire He Xiangjian, is listing its shares in Hong Kong and hoping to raise up to HK$27 billion ($3.5 billion), which would be one of the largest listings in the Asian financial hub for the past three years.

Shares of Chinese appliance maker Midea Group Co. rose in their Hong Kong debut after the city’s biggest listing in three years saw robust demand and revived hopes of a turnaround for its struggling market.