DKE opens gray market at $80 ahead of July 8 Hong Kong listing

DKE (01770.HK) opened at $80 on the gray market, up 1.7% from its listing price, ahead of its July 8 debut on Hong Kong's Main Board, according to Futu data.

The stock last traded at $79.95, also up 1.7%, on volume of 122,200 shares and turnover of $11.41 million, Futu data showed. PhillipMart data recorded a wider opening range, with DKE surging 40.1% to $110.2 before settling at $79.35, up 0.9%, on volume of 63,900 shares and turnover of $5.81 million.

The discrepancy between the two gray market platforms highlights the fragmented nature of pre-listing trading, where prices and volumes can vary significantly across brokers. Hong Kong stock quotes are delayed by at least 15 minutes.

The company's offer price, deal size, and cornerstone investor details have not yet been disclosed. Gray market activity typically reflects early demand signals from institutional and high-net-worth investors ahead of the official debut. The performance on July 8 will provide the definitive test of market appetite for the new listing on Hong Kong's Main Board.

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