Key Takeaways:
- Liuliumei last traded at $86 in gray market, up 97.3%
- Gray market volume reached 775,900 shares on Futu
- The company lists on HKEX Main Board on 15 June
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Liuliumei surges 97% in gray market ahead of HKEX debut
Liuliumei (06658.HK) opened at $87 in gray market trading, up 99.6% from its listing price, ahead of its June 15 debut on the Hong Kong Stock Exchange.
"Recent market concerns over Hong Kong's financial sector are clearly overdone," Morgan Stanley said in a note.
The stock last printed at $86, up 97.3% from the listing price, on volume of 775,900 shares and turnover of $68.79 million, according to Futu data. PhillipMart data showed the stock opened at $60, up 37.7%, with 516,000 shares changing hands and turnover of $46.2 million.
The strong gray market performance signals robust demand for new listings in Hong Kong. First-day trading on 15 June will test whether institutional buying sustains the momentum. The company did not disclose its deal size, cornerstone investors, or use of proceeds in gray market filings.
This article is for informational purposes only and does not constitute investment advice.
