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Hong Kong stock market abnormalities: Guanglianke Technology Holdings (02531) fell more than 5%, falling below the issue price on the second day of listing, and the company's profit margin is under pressure.
On the second day of Guanglian Technology Holding's (02531) listing, the stock fell more than 5%, hitting a low of HKD 4.51, falling below the issue price of HKD 4.7. As of press time, it has fallen 5.21%, at HKD 4.55 with a turnover of 4.4932 million Hong Kong dollars.
Guanglian Technology (02531): Did the stock experience a roller coaster ride on its first day of listing and get trapped in the gray market?
On the first day of Guanglian Technology's listing, the stock price rose sharply and then fell back.
Newly listed IPO, Guanglian Technology Holdings (02531), closed at 4.8 Hong Kong dollars, 2.13% higher than the offering price.
Guanglian Technology Holdings (02531) was first listed at HKD 4.8, which was 2.13% higher than the issue price. The total daily transaction volume was 4.884 million shares, with a turnover of HKD 25.3654 million. Without considering the handling fee, each hand of 500 shares would earn a book profit of HKD 50. The stock opened at HKD 5.48 in the morning, which was 16.60% higher than the issue price. The lowest price was HKD 4.72, and the highest price was HKD 5.6. The latest total market value is HKD 1.76 billion.
Guanglian Technology Holdings (02531) made its debut on the market today with an opening price of up 16.6% in early trading.
Guanglian Technology Holdings Limited (02531) has launched its IPO. According to the announcement, the price per share is HK$4.7 and a total of 63.6 million shares will be issued, with a minimum board lot of 500 shares. The net proceeds from the issuance is about HK$ 0.23027 billion. As of the time of writing, the stock has risen by 16.6% and is trading at HK$ 5.48 with a turnover of HK$ 8.2138 million.
Guanglian Technology Holdings is priced at HKD 4.7 per share, with a public offering oversubscribed 2.49 times.
Guanglian Technology Holdings (02531) announced the distribution results, with 63.6 million shares sold globally, 10% sold publicly in Hong Kong, and 90% sold internationally. The final selling price was HKD 4.7 per share, with approximately HKD 0.23 billion in net proceeds from the global sale. Each lot contains 500 shares, and it is expected that the shares will begin trading on the Hong Kong Stock Exchange at 9:00 a.m. on Monday, July 15, 2024. Hong Kong public sale was oversubscribed 2.49 times, while international sales were oversubscribed 1.06 times.
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