Key Takeaways:
Shares of the industrial automation company Robotphoenix (06871.HK) surged more than 103% in gray market trading ahead of its public listing on May 18.
According to data from Futu, Robotphoenix shares opened at $62, a 103.3% premium to its listing price. The stock later trimmed gains to close at $52.7, still up 72.8 percent, with a turnover of $118.24 million from 2.2 million shares traded.
A separate platform, PhillipMart, showed the shares opening at $55, up 80.3 percent, and last printing at $52.05, a 70.7 percent gain. Turnover on PhillipMart reached $59 million on a volume of 1.1 million shares.
The strong gray market performance indicates robust investor demand for the IPO ahead of its official debut on the Hong Kong Stock Exchange. The initial pricing values the company at a significant premium, and first-day trading on May 18 will be a key test of institutional and retail appetite.
This article is for informational purposes only and does not constitute investment advice.
