{Economic Information Daily, 29th} Four new stocks listed today, three of which are H-shares, with only Benmotech (06731) being a fresh listing and the only one to open above its IPO price. It opened at HK$22.48, 4.1% above its offer price of HK$21.6, and maintained its gains to close at HK$23.2, 7.4% above the offer price, generating a paper profit of HK$160 per board lot of 100 shares. The stock traded 13.45 million shares, amounting to HK$304 million.
However, Benmotech was not the best-performing new listing of the day. Kinwong Electronic (03228) opened at HK$65, 7% below its IPO price of HK$69.88, but strong buying interest during the session pushed the stock above its offer price and into positive territory. It eventually closed at HK$77.05, 10.3% above its IPO price, delivering a paper profit of HK$717 per board lot of 100 shares. The stock traded 22.65 million shares, worth HK$1.656 billion, making it the top-performing new listing of the day. Its A-share (SSE: 603228) closed at RMB 100.53, up 5.8%, showing a 51.85% premium over its H-share.
*Two H-shares close below IPO price; Robotic (03757) leads losses with over HK$1,000 per lot*
In contrast, the other two new listings opened below their IPO prices and remained weak throughout the day, trading below their offer prices. Robotic (03757) closed at HK$414.4, 5% below its IPO price of HK$436, resulting in a paper loss of HK$1,080 per board lot of 50 shares. The stock traded 2.6031 million shares, worth HK$107.6 million. Its A-share (SZSE: 300757) closed at RMB 529, down 0.2%, showing a 48.56% premium over its H-share.
Meanwhile, Tongcheng New Materials (09607) opened at HK$40, 9.1% below its IPO price of HK$44, despite being priced at the top of its range and oversubscribed only about 2.4 times, guaranteeing allocation for single-lot applicants. The stock closed at HK$39.98, 9.1% below its offer price, incurring a paper loss of HK$402 per board lot of 100 shares. It traded 10.74 million shares, worth HK$416 million. Its A-share (SSE: 603650) closed at RMB 63.21, down 3.5%, showing an 84% premium over its H-share.
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However, Benmotech was not the best-performing new listing of the day. Kinwong Electronic (03228) opened at HK$65, 7% below its IPO price of HK$69.88, but strong buying interest during the session pushed the stock above its offer price and into positive territory. It eventually closed at HK$77.05, 10.3% above its IPO price, delivering a paper profit of HK$717 per board lot of 100 shares. The stock traded 22.65 million shares, worth HK$1.656 billion, making it the top-performing new listing of the day. Its A-share (SSE: 603228) closed at RMB 100.53, up 5.8%, showing a 51.85% premium over its H-share.
*Two H-shares close below IPO price; Robotic (03757) leads losses with over HK$1,000 per lot*
In contrast, the other two new listings opened below their IPO prices and remained weak throughout the day, trading below their offer prices. Robotic (03757) closed at HK$414.4, 5% below its IPO price of HK$436, resulting in a paper loss of HK$1,080 per board lot of 50 shares. The stock traded 2.6031 million shares, worth HK$107.6 million. Its A-share (SZSE: 300757) closed at RMB 529, down 0.2%, showing a 48.56% premium over its H-share.
Meanwhile, Tongcheng New Materials (09607) opened at HK$40, 9.1% below its IPO price of HK$44, despite being priced at the top of its range and oversubscribed only about 2.4 times, guaranteeing allocation for single-lot applicants. The stock closed at HK$39.98, 9.1% below its offer price, incurring a paper loss of HK$402 per board lot of 100 shares. It traded 10.74 million shares, worth HK$416 million. Its A-share (SSE: 603650) closed at RMB 63.21, down 3.5%, showing an 84% premium over its H-share.
| Stock (Code) | Current Price (HK$) | vs IPO Price (%) |
|---|---|---|
| Benmotech (06731) | 23.20 | +7.41% |
| Kinwong Electronic (03228) | 77.05 | +10.26% |
| Robotic (03757) | 414.40 | -4.95% |
| Tongcheng New Materials (09607) | 39.98 | -9.14% |
