HJ Science-B surges 83% on gray market ahead of June 23 HKEX debut

HJ Science-B (06132.HK) opened 83.4% above its listing price on the gray market ahead of its June 23 debut on the Hong Kong Stock Exchange Main Board.

The stock opened at $150 on the gray market, according to PhillipMart data, and last traded at $104, up 27.1% from the listing price. Volume reached 627,000 shares with turnover of $72.2 million. Separately, Futu data showed the stock opened at $100.8, up 23.2%, and last traded at $108.4, up 32.5%, on volume of 544,800 shares and turnover of $65.97 million. Hong Kong stock quotes are delayed by at least 15 minutes.

The two data providers reported different opening prices — $150 per PhillipMart versus $100.8 per Futu — reflecting the fragmented nature of gray market trading, where multiple platforms facilitate pre-IPO transactions among institutional investors. The last printed prices also diverged, with PhillipMart reporting $104 and Futu reporting $108.4.

The company has not yet disclosed the final offer price, total deal size, or oversubscription ratios. Cornerstone investor commitments and lead underwriter details also remain undisclosed as of the gray market session.

The gray-market performance signals strong institutional demand for the listing. First-day trading on June 23 will provide the first real test of market depth and set a valuation benchmark for the biotech firm. Investors will watch for post-listing price stability and any greenshoe option exercise in the days following the debut.

This article is for informational purposes only and does not constitute investment advice.