[New Stock IPO] Kailes Technology 2729 debuts with 92% premium gain, HK$3,068 profit per lot, subscription 2,152x; Zejing Holdings 2632 dives with 0.7% discount at open, subscription 68x

SocialAnxietyStaker · 2026-03-24T01:46:45+00:00

Kaleyuan Technology (02729) and Zejing Holdings (02632) listed on March 24, with differing stock performance. Kaleyuan opened at HK$32, up 92.1% from the IPO price, with a subscription rate of 5%; Zejing opened at HK$43.9, slightly below the IPO price, with a per-lot subscription rate of 30%. In gray market trading, Kaleyuan profits exceeded HK$2,700, while Zejing showed profit ranges between HK$23 to HK$280 across different platforms.

SocialAnxietyStaker

2026-03-24 01:46:45

Abstract generation in progress

Logistics robot provider Kellett Technology (02729), Mainland China automotive HUD (Head-Up Display) manufacturer Zejing Holdings (02632) listed on the first day, showing individual performance. Kellett Technology opened at HKD 32, up 92.1% from the IPO price of HKD 16.66, earning HKD 3,068 per lot of 200 shares on paper. Zejing Holdings opened at HKD 43.9, down 0.7% from the IPO price of HKD 44.2, losing HKD 15 per lot of 50 shares.

Regarding the allotment results, Kellett’s public offering was oversubscribed by 2,152.26 times with 107,000 applicants, with a 5% success rate; subscribing for 700,000 shares or 3,500 lots would be more stable. The international tranche was subscribed by 123 allottees, oversubscribed by 2.37 times.

Zejing’s allotment was less competitive, with 31,100 applicants, oversubscribed by 67.89 times, and a 30% success rate; applying for 3,000 shares or 60 lots guarantees a successful allotment. The international tranche was subscribed by 71 allottees, oversubscribed by 0.34 times.

Both new stocks listed on March 24, with dark pool trading after market close on Monday.

Kellett Technology: Dark pool closing at HKD 30.42 to HKD 30.52, over 80% above the IPO price of HKD 16.6. Each lot of 200 shares would profit over HKD 2,700 on paper.
Zejing Holdings: In the dark pool, shares rose 1% on the Bright, and nearly 3% on the Yau Cai, with a profit of HKD 23 and HKD 65 per lot of 50 shares, respectively; Futu dark pool rose 12%, with a profit of HKD 280 per lot.

Kellett Technology (2729) dark pool performance

Dark Pool Trading Venue	Quote (HKD)	Change from HKD 16.6	Profit/Loss per lot of 200 shares (HKD)
Bright	30.42	+82.6%	+2,752
Futu	30.52	+83.2%	+2,772
Yau Cai	30.5	+83%	+2,768

Kellett was priced near the lower limit of HKD 16.66, with an issue of 36.798 million shares, raising HKD 613 million. The original IPO price range was HKD 16.4 to HKD 20.4.

Zejing (02632) dark pool performance

Dark Pool Trading Venue	Quote (HKD)	Change from HKD 44.2	Profit/Loss per lot of 50 shares (HKD)
Bright	44.66	+1%	+23
Futu	49.8	+12.6%	+280
Yau Cai	45.5	+2.9%	+65

Zejing Holdings was priced at HKD 44.2 per share, with 16.227 million shares issued, raising nearly HKD 720 million.

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