New Vision Auto Soars 21% in Grey Market Trading Ahead of IPO

Edgen Stock·Mar 23 2026, 08:50

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Key Takeaways

New Vision Auto (02632.HK) demonstrated strong investor appetite in grey market trading before its official Hong Kong listing. The stock's performance across different platforms points to bullish sentiment ahead of its public debut on March 24.

Significant Pre-IPO Gain: The stock's price closed at $53.5 on one platform, marking a 21% increase over its apparent listing price of $44.2.
Divergent Trading Openings: Trading began flat at $44.2 on PhillipMart but opened 1.4% higher at $44.8 on Futu, showing varied initial demand.
Impending Public Listing: New Vision Auto is scheduled to begin trading officially on the Hong Kong stock exchange on March 24.

Shares Climb 21% to $53.5 in Pre-Listing Trade

Shares of New Vision Auto (02632.HK) saw significant gains in grey market trading ahead of its official listing, signaling strong investor demand. On Futu's trading platform, the stock opened up 1.4% at $44.8 before climbing to a final price of $53.5. This represents a 21% premium over the company's apparent listing price of $44.2. The activity on Futu involved a volume of 243,600 shares, generating a turnover of $11.83 million.

PhillipMart Data Shows Muted $44.2 Opening

In contrast to the bullish activity elsewhere, trading on the PhillipMart platform started on a more cautious note. New Vision Auto opened flat at $44.2, the same as its expected initial public offering price. Despite the lack of an initial price increase, the platform recorded substantial activity, with a trading volume of 887,000 shares and a total turnover of $41.7 million. This mixed opening across platforms highlights different pockets of initial market sentiment before the company's formal debut on the Hong Kong stock exchange on March 24.