Four New Stocks Debut with Mixed Results; Huanchuang Tech Grey Market Surges
On.cc · 2 SOURCES1 day ago2 MIN
Summary
Four new stocks debuted on the Hong Kong Stock Exchange on September 29, 2026, with Benmo Technology emerging as the sole gainer among a otherwise weak new stock market. While Benmo Technology rose 6.4% from its IPO price, three other newly listed technology and manufacturing stocks fell below their listing prices. Simultaneously, Huanchuang Technology attracted exceptional investor interest ahead of its Wednesday debut, with grey market prices surging nearly 190% above the issue price.
Key Points
- Benmo Technology (06731), a robotics company, closed at HK$23, up 6.4% from its HK$21.6 IPO price, yielding a profit of HK$140 per lot
- Three other debut stocks all fell below IPO prices, with Tongxin New Materials (09607) down 10.9% to HK$39.2, Robert Technology (03757) down 8% to HK$401, and Kingmax Electronic (03228) down 0.9% to HK$69.2
- Huanchuang Technology (6802) grey market surged 187-190%, trading between HK$169-HK$170.8 versus the HK$58.85 issue price, with per-lot profits exceeding HK$11,000
- Huanchuang Technology's public offering was oversubscribed 3,551 times, attracting 158,000 subscribers for its planned issuance of 11.589 million H shares raising HK$680 million
- CICC and Guosen Securities Hong Kong serve as joint sponsors for Huanchuang Technology's Wednesday listing, continuing the active tech sector IPO trend
Why It Matters
The divergent performances highlight ongoing volatility in Hong Kong's new stock market, where robotics and technology listings continue commanding strong investor interest despite broader market uncertainty. Huanchuang Technology's extraordinary grey market performance and 3,551-times oversubscription signal robust appetite for innovative technology sector offerings in the current market environment.
The divergent performances highlight ongoing volatility in Hong Kong's new stock market, where robotics and technology listings continue commanding strong investor interest despite broader market uncertainty. Huanchuang Technology's extraordinary grey market performance and 3,551-times oversubscription signal robust appetite for innovative technology sector offerings in the current market environment.