Key Takeaways:
- Baogai opened 20.6% higher on gray market at $7.5 per Futu data.
- Last gray market print at $6.61, up 6.3% from the listing price.
- Combined gray market turnover reached $6.24 million across two platforms.
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Baogai opens up 20.6% on gray market ahead of July 8 listing
Baogai (08090.HK) opened 20.6% higher on the gray market at $7.5 ahead of its July 8 listing, Futu data shows.
The stock last printed at $6.61 on Futu, up 6.3% from the listing price, on volume of 566,000 shares and turnover of $4.48 million. On PhillipMart, the stock opened 79.7% higher at $11.18 before settling at $6.34, up 1.9%, with 238,000 shares changing hands for $1.76 million.
The gray market performance across both platforms showed early demand for the GEM board listing. Combined turnover reached $6.24 million on volume of 804,000 shares.
First-day trading on July 8 will test whether the gray market premium holds under full market conditions. Investors will watch the opening print and early volume for signs of sustained institutional interest.
This article is for informational purposes only and does not constitute investment advice.
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