Fu Shou Yuan International, a Chinese developer of graveyards, soared on its Hong Kong trading debut as optimism the Federal Reserve will keep interest rates near record lows stoked demand for new equity.

The Shanghai-based company jumped 45 per cent from its offer price to HK$4.82, having earlier pushed 53 per cent ahead. Kerry Logistics Network, Consun Pharmaceutical and China Conch Venture Holdings also rose on their Hong Kong debuts.

Fu Shou Yuan, which develops and operates graveyards in Chinese cities including Shanghai, raised $215 million.

Fu Shou Yuan sold 500 million shares at HK$3.33 each, the top end of a marketed range. The company, founded in 2003, runs graveyards and funeral services in eight Chinese cities, according to its website. – (Bloomberg)