Key Takeaways:
- BASiC Semiconductor opened 20.2% higher at $38 on the gray market
- The stock last traded at $34.8, up 10.1% from the listing price
- Trading volume reached 1.84 million shares with $63.75 million turnover
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BASiC Semiconductor jumps 20% on gray market ahead of HK debut
BASiC Semiconductor (09971.HK) opened 20.2% higher at $38 on the gray market ahead of its July 8 listing on Hong Kong's Main Board, according to Futu data.
The stock last traded at $34.8, up 10.1% from the listing price, on volume of 1.84 million shares and turnover of $63.75 million. A separate data feed from PhillipMart showed the stock opening 89.8% higher at $60 before settling at $36.84, up 16.5%, with 867,000 shares changing hands and turnover of $31.1 million.
The gray market performance suggests strong demand for the semiconductor company's Hong Kong debut. Gray market trading, conducted through broker platforms before the official listing, serves as an early indicator of investor appetite.
The company's listing on the Main Board comes as Hong Kong seeks to attract more tech and semiconductor listings amid a broader push to deepen its capital markets. First-day trading on July 8 will provide the clearest signal of institutional and retail demand for the stock.
This article is for informational purposes only and does not constitute investment advice.
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