Three new listings delivered mixed performances in Hong Kong's gray market on Thursday, just a day ahead of their debuts.
LongBio Pharma (Suzhou) surged among three major gray markets, rising about 56 percent from its offer price of HK$96.06.
The Chinese clinical-stage biopharmaceutical company jumped the most on Bright Smart Securities' platform, up 57.19 percent to HK$151, with investors earning a paper gain of HK$2,747 per board lot of 50 shares.
It once surged nearly 1.5 times to HK$240 on Philip Securities' platform during the trading.
Concurrently, Hong Kong's retail chain Lung Fung rose 1.5 percent and 0.4 percent on Futu Securities' and Bright Smart Securities' platforms from its offer price of HK$5.18, delivering a paper gain of HK$40 and HK$10 per board lot of 500 shares, respectively.
But the local retail chain of beauty, health, and pharmaceutical products closed 1.5 percent lower on Philip Securities' platform after advancing 21.6 percent, giving a paper loss of HK$40 per 500 shares.
However, China's wind power equipment provider Dajin Heavy Industry saw declines in three major securities' platforms, down about 4.6 percent.
The company dropped 4.97 percent to HK$63.1 on Futu Securities' platform, compared to its offer price of HK$66.4, with a paper loss of HK$330 per board lot of 100 shares.
It also slipped 4.67 percent and 4.52 percent on Philip Securities' and Bright Smart Securities' platforms, respectively.
