Key Takeaways:
- Shougang Lanzatech (02553.HK) gray market last printed at $32.5, up 122.6%.
- PhillipMart data showed the stock at $28.52, a 95.3% gain from listing price.
- The company is set to begin trading on the Hong Kong exchange on June 3.
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Shougang Lanzatech surges 122% in gray market ahead of HK listing
Shougang Lanzatech (02553.HK) surged as much as 122.6% in gray market trading ahead of its Hong Kong listing on June 3.
Futu data recorded the stock opening at $14, down 4.1% from the listing price of about $14.60, before climbing to $32.5 on volume of 4.59 million shares and turnover of $114.42 million. PhillipMart data showed an opening at $15.2, up 4.1%, with a last print of $28.52, a 95.3% gain, on 3.02 million shares and turnover of $73.8 million.
The company did not disclose its offer price range, deal size, or cornerstone investor details. Information on lead underwriters and oversubscription ratios remains pending.
The gray market performance signals strong demand ahead of the company's official debut on the HKEX Main Board. Investors will watch first-day trading on June 3 for signs of sustained buying momentum.
This article is for informational purposes only and does not constitute investment advice.
