Key Takeaways:
- Ingenic (03223.HK) gray-market shares slipped 1.2 percent to $98.8
- Futu data showed a last print of $99.65, down 0.4 percent
- Chip designer lists on Hong Kong's Main Board on Aug 25
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Ingenic gray market slips 1.2% before Aug 25 HK debut
Ingenic (03223.HK) gray-market shares slipped as much as 1.2 percent to $98.8 ahead of its Aug 25 Hong Kong listing, Futu and PhillipMart data show.
The stock opened up 0.1 percent at $100.1 in gray-market trading before easing, with Futu data showing a last print of $99.65, down 0.4 percent from the $100 listing price, on 238,400 shares and $24.03 million in turnover.
PhillipMart data showed a steeper decline, with shares last at $98.8, down 1.2 percent, on 143,000 shares and $14.2 million in turnover. The gray-market moves follow Ingenic's interim net profit of RMB1.198 billion, up 489.6 percent year over year.
The $100 listing price sets the stage for the chip designer's Main Board debut on Aug 25. First-day trading will test whether gray-market softness carries into the official session, and investors will watch for early volume and price support near the offer level.
Hong Kong quotes are delayed by at least 15 minutes.
This article is for informational purposes only and does not constitute investment advice.
