DeepZero Tech closed at $149 on the gray market, up 168.5% from its listing price. The stock peaked at $152.20 with volume of 1.03 million shares. Each board lot of 100 shares generated a $9,350 book gain.
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DeepZero Tech surges 168.5% on gray market ahead of HK listing
DeepZero Tech (02723.HK) closed at $149 on the gray market, up 168.5% from its $55.50 listing price, ahead of its May 27 debut on the Hong Kong Stock Exchange.
The stock opened at $88, a 58.6% gain, and ranged between $80 and $149.50 during the session, according to Futu data. A separate data feed from PhillipMart showed an opening price of $90, a 62.2% increase, with a session range of $90 to $152.20. Both data providers recorded the same closing price of $149.
Trading volume reached 1.03 million shares on Futu, generating turnover of $132.47 million. PhillipMart reported volume of 489,000 shares and turnover of $64.7 million. Excluding handling fees, the book gain per board lot of 100 shares was $9,350.
The gray market performance values the company well above its IPO price, reflecting strong investor appetite ahead of the official listing. Hong Kong's IPO market has seen a pickup in activity, with several new listings drawing significant demand from both retail and institutional investors in recent months.
The surge points to strong demand for the stock. Investors will watch first-day trading on May 27 to see whether the gray market momentum carries into the public market.
This article is for informational purposes only and does not constitute investment advice.
