MeiG Smart Tech Gains 4% in Grey Market Trading Ahead of IPO

Grey Market Opening: The stock opened at <strong class="body_output text-content_primary font-semibold" node="[object Object]">$30 on Futu&#x27;s platform , a 4% increase from its initial public offering price.
Trading Activity: Combined turnover across the Futu and PhillipMart grey markets reached <strong class="body_output text-content_primary font-semibold" node="[object Object]">$32.4 million , signaling notable pre-listing interest.
Official Debut: The company is scheduled to be <strong class="body_output text-content_primary font-semibold" node="[object Object]">formally listed on the Hong Kong Stock Exchange on March 10.

Shares Open 4% Higher in Pre-Listing Trade

MeiG Smart Tech (03268.HK) shares showed early investor appetite, opening 4% higher at $30 in grey market trading on the Futu platform ahead of its official listing. The stock later moderated, closing the session at $29.2, representing a 1.2% gain over its listing price. This pre-market activity involved a volume of 645,400 shares and generated a turnover of $19 million.

Platform Data Shows Muted Closing Gains

Activity on PhillipMart's grey market platform reflected similar, though more constrained, positive sentiment. The stock opened at $29.5, a 2.2% increase, before settling at $29 for a 0.5% gain. Trading volume on this platform reached 460,000 shares with a turnover of $13.4 million. The performance across both platforms points to initial demand for the stock before its formal market debut on the Hong Kong Stock Exchange on March 10.