【New Stock IPO】Youlesai 2649 first listed with a deep dip close to 44%, losing 2,400 yuan per lot; Eston 2715 opened flat and closed down 16%; Zhaowei Electromechanical 2692 maintained stability

Youle Sai Shared (02649) Zhaowei Electromechanical (02692) Eston (02715) Three new stocks listed, with two declining and one rising. Among them, Youle Sai performed the worst, dropping nearly 44%.

The Youle Sai Shared, priced at HKD 11, opened lower and declined further on debut, opening at HKD 7.5, down 31.8%. It closed at HKD 6.2, a decrease of 43.6%. One lot of 500 shares results in a paper loss of HKD 2,400.

Eston, an industrial robotic manufacturer, also fell. It opened at HKD 15.36 but traded downward during the day, closing at HKD 12.9, down 16.02%. One lot of 200 shares results in a paper loss of HKD 492.

Zhaowei Electromechanical, a provider of integrated micro transmission and drive systems, managed to stay afloat. It opened at HKD 78, 9.4% above the IPO price of HKD 71.28, and closed at HKD 73, up 2.4%. One lot of 100 shares results in a profit of HKD 172.

Three new stock allotment results

Additionally, the allotment results show that the three new stocks were oversubscribed approximately 5,296 times, 1,536 times, and 19 times respectively. The success rate for winning a lot was 0.04%, 4%, and 4.99%.

Youle Sai Shared received 162,571 applications for the public offering, with 4,068 accepted. The stock was heavily oversubscribed, with 4,075 applicants applying for the maximum allotment, and only 1,043 receiving one lot.

Zhaowei Electromechanical received 180,292 applications, with 23,940 accepted. Applying for 3,000 lots (300,000 shares) was needed to secure one lot; 317 applicants received the maximum, with each getting 4 lots, and 50 applicants receiving an extra lot.

Eston received 27,190 applications, with 6,799 accepted. Applying for 25 lots (5,000 shares) was needed to secure one lot; 2 applicants received the maximum, each getting 1,313 lots.

The three new stocks traded in the dark pool last Friday (6th). Zhaowei Electromechanical rose over 15%, Eston fell more than 7%, and Youle Sai Shared showed mixed performance.

• Youle Sai Shared: peaked at HKD 30.86 during the session, 181% above the HKD 11 price. A lot (500 shares) would have a paper profit of HKD 9,930. The closing performance was mixed: Bright Talent and CICC declined nearly 1%, while Futu surged 27%.
• Zhaowei Electromechanical: dark pool closed up about 16% at HKD 18, with a lot (100 shares) earning HKD 1,127 to HKD 1,282.
• Eston: dark pool closed down about 7% at nearly HKD 10, with a lot (200 shares) showing a paper loss of HKD 232 to HKD 292.

Youle Sai Shared HKD 2649 dark pool

Youle Sai Shared plans to issue 20.336 million shares, with 10% for public offering, raising approximately HKD 285 million. No cornerstone investors were involved in this IPO. The original offer price range was HKD 11 to HKD 14.

Zhaowei Electromechanical HKD 2692 dark pool

Zhaowei Electromechanical plans to issue 26.7483 million H-shares, with 10% in the public offering, raising up to HKD 1.971 billion. The maximum initial offering price was HKD 73.68 per share.

Eston HKD 2715 dark pool

Eston plans to issue 96.78 million H-shares, with 10% in the public offering, raising up to HKD 1.645 billion. The original offer price range was HKD 15.36 to HKD 17.

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