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Shares of fishing gear maker Ridge Outdoor International more than doubled in grey market trading on Monday ahead of its Hong Kong debut on Tuesday, delivering gains of over HK$6,000 per lot for investors.
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The company had planned to offer 28.2 million shares at a price range of HK$11.25 to HK$12.25 each, raising up to HK$345 million. Ridge Outdoor was reportedly priced at the top end of the range at HK$12.25.
In contrast, shares of Axera Semiconductor, an artificial intelligence system-on-chip supplier also set to debut on Tuesday, fell more than 7 percent in gray market trading, resulting in a loss of about HK$200 per lot.
Axera is set to issue 100 million shares at HK$28.2 each, raising HK$2.96 billion.
