Key Takeaways:
TenNor Therapeutics (06872.HK) saw its shares surge nearly 95 percent in gray market trading ahead of its official listing on the Hong Kong Stock Exchange's Main Board on May 22.
According to data from Futu, the pre-market session saw significant investor demand for the pharmaceutical company.
On the Futu platform, TenNor's shares closed at $147.5, a 94.8 percent jump from the listing price of $75.70. The session saw a turnover of $98.94 million from 792,650 shares traded. Data from PhillipMart showed a similar performance, with the stock closing at $147, up 94.2 percent, on a turnover of $70.8 million.
The strong gray market performance indicates a book gain of as much as $3,590 per board lot of 50 shares for early investors, signaling robust appetite for the pharmaceutical company's debut. The trading range was wide, with the stock peaking at $159.1 on Futu, indicating high interest and volatility.
The impressive gray market premium suggests strong institutional and retail demand for TenNor Therapeutics. The company's first day of trading on May 22 will be a key test to see if this momentum carries over into the public market.
This article is for informational purposes only and does not constitute investment advice.
