Key Takeaways:
- Befar Group closed at $2.73 on gray market, down 21.6% from listing price.
- Gray market volume reached 10.13 million shares with $28.32 million turnover.
- Book loss stood at $750 per board lot of 1,000 shares excluding fees.
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Befar Group falls 21.6% on gray market ahead of July 10 listing
Befar Group (06745.HK) closed at $2.73 on the gray market, down 21.6% from its listing price, ahead of its July 10 debut on the Hong Kong exchange.
The gray market weakness signals tepid demand for the incoming listing, with the stock opening 13.8% below its offer price at $3, according to Futu data. It peaked at $3.24 and bottomed at $2.48 during the session.
Volume reached 10.13 million shares, generating $28.32 million in turnover. Excluding handling fees, the book loss was $750 per board lot of 1,000 shares.
PhillipMart data showed a similar pattern, with the stock opening at $3.10, down 10.9%, and trading between $3.15 and $2.66 before closing at $2.74, a 21.3% decline. Turnover totaled $19 million on 6.84 million shares, with a book loss of $740 per lot.
The gray market performance implies weak institutional demand for Befar Group's IPO. Investors will watch the stock's first-day trading on July 10 for signs of price stabilization or further downside.
This article is for informational purposes only and does not constitute investment advice.
