LongBio-B (01779.HK) closed at $150.9 on the gray market, up 57.1% from its listing price, ahead of its June 5 Hong Kong debut. The stock traded between $100 and $235 on volume of 994,450 shares, with a book gain of $2,742 per board lot.
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LongBio-B surges 57% on gray market ahead of Hong Kong listing
LongBio-B (01779.HK) closed at $150.9 on the gray market, up 57.1% or $54.84 from its listing price, ahead of its June 5 debut on the Hong Kong Stock Exchange.
The stock opened at $100, up 4.1%, and traded between $100 and $235 during the session, according to Futu data. Volume reached 994,450 shares with turnover of $173.82 million. Excluding handling fees, the book gain was $2,742 per board lot of 50 shares.
PhillipMart data showed a similar trajectory, with the stock opening at $180, up 87.4%, and closing at $149.8, a 55.9% gain or $53.74 above the listing price. The session range spanned $140.6 to $240 on volume of 675,000 shares and turnover of $110 million. The book gain stood at $2,687 per board lot.
The gray market performance signals strong demand for the biotech listing ahead of its official trading start. Investors will watch first-day trading on June 5 to gauge whether institutional buying sustains the momentum seen in the gray market session.
This article is for informational purposes only and does not constitute investment advice.
