Key Takeaways:
- Seer Tech gray market trades fell 12.5% to $88.85 from its listing price.
- Volume reached 474,000 shares with turnover of $43.2 million on PhillipMart.
- The company is set to list on the Hong Kong Stock Exchange on June 24.
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Seer Tech slides 12.5% in gray market before HK listing
Seer Tech (06106.HK) gray market trades fell 12.5% to $88.85 from its listing price ahead of its June 24 debut on the Hong Kong exchange.
The stock opened at $111.1 on the gray market, up 9.4% from the listing price, before reversing to trade at $88.85 on volume of 474,000 shares and turnover of $43.2 million, according to PhillipMart data. On Futu's platform, the stock opened at $105, up 3.3%, and last traded at $91, down 10.4% from the listing price, with 434,450 shares changing hands and turnover of $40.51 million.
Gray market trading, conducted before the official listing, provides an early indication of investor demand and potential first-day price direction. The reversal from an opening gain to a decline suggests mixed sentiment among institutional and retail participants ahead of the company's Main Board debut.
The gray market performance will be tested when Seer Tech begins trading on the Hong Kong Stock Exchange on June 24. The company did not disclose its final offer price, deal size, or cornerstone investor details in the gray market filings. Investors will watch first-day trading volume and price action to gauge the strength of institutional demand for the newly listed stock.
This article is for informational purposes only and does not constitute investment advice.
