Key Takeaways:
Metis TechBio-P (07666.HK) saw its shares surge as much as 205% in grey market trading on Friday, ahead of its debut on the Hong Kong Stock Exchange’s Main Board on May 13.
The performance was tracked across multiple platforms. According to data from the Futu trading platform, the biotech firm’s shares opened at HKD32, a 204.8% jump from its listing price of HKD10.5.
High demand was evident with significant trading volume. On Futu, volume reached 13.13 million shares worth HKD432 million, with the price closing at HKD30.76, a 193% gain. The Phillip trading platform reported a similar trend, opening at HKD25.1 and closing at HKD30.98, a 195% increase, on volume of 7.11 million shares valued at HKD241 million.
The combined grey market turnover on both platforms amounted to over HKD673 million, indicating strong investor interest in the pre-revenue biotech company before its official market entrance.
The strong grey market performance suggests a significant premium over its HKD10.5 listing price when official trading begins. First-day trading on May 13 will be a key test of institutional and retail investor demand for the new biotech listing.
This article is for informational purposes only and does not constitute investment advice.
