Nexchip gray market gains 18pc, but Befar loses 29pc ahead of debut

Chinese pure-play semiconductor foundry Nexchip and Chinese chemical enterprise Befar showed mixed performance in their gray market ahead of their Friday debut on Thursday.

Combining the three major gray market platforms, Nexchip rose as much as 18 percent to HK$38.1 versus its offer price of HK$32.3. That translates to a paper gain of HK$580 per 100 shares.

Nexchip is mainland China's third-largest semiconductor foundry behind Semiconductor Manufacturing International Corporation (0981) and Hua Hong Semiconductor (1347). 

Befar, on the other hand, once fell 28.7 percent to HK$2.48, compared to its offer price of HK$3.48. That translates to a paper loss of HK$1,000 per board lot of 1,000 shares.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓