- Luxshare ICT closed at $60.15 on gray market, down 4.9% from its IPO price.
- The stock swung between $56 and $70 during the session before its July 9 listing.
- Each board lot of 100 shares incurred a paper loss of $313 excluding fees.
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Luxshare ICT closes 4.9% below IPO price in gray market trading
Luxshare ICT (02475.HK) closed at $60.15 on gray market, down 4.9% from its IPO price of $63.28.
The stock opened at $69.95, up 10.5% from the listing price, before swinging between a high of $70 and a low of $56, according to PhillipMart data. Volume reached 5.62 million shares with turnover of $335 million. On Futu's platform, the stock opened at $59, down 6.8%, and traded between $61.45 and $56.20 on volume of 2.56 million shares and turnover of $151.12 million.
Excluding handling fees, each board lot of 100 shares incurred a paper loss of $313.
The gray market, where shares trade before official listing, saw wide intraday swings as investors priced the stock ahead of its Main Board debut. The closing price below the IPO level indicates tepid demand from gray market participants, though the session's early spike to $70 showed initial buying interest.
The company did not disclose its deal size, oversubscription ratio, or cornerstone investor commitments. The listing comes as BofAS cut its price target on Hong Kong Exchanges and Clearing (00388.HK) to HKD500, citing strong first-half IPO activity but a lack of mega listings.
The pricing gives Luxshare ICT an enterprise value that will be tested against sector peers once regular trading begins. Investors will watch first-day volume and price action on July 9 to gauge institutional appetite for the listing.
This article is for informational purposes only and does not constitute investment advice.
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