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Ant Group Trades at 50% Premium in Hong Kong Gray Market

  • Institutions still buying shares at about HK$120 ahead of IPO
  • Gray market trading seen as early indicator of IPO performance
Updated on

A rare move by China’s top regulators to rein in Ant Group Co.’s expansion plans hasn’t curbed interest in the fintech stock, which continues to trade at a 50% premium ahead of its debut this week.

Institutional investors bought shares at about HK$120 ($15.50) apiece in gray-market trading for a second day Tuesday, compared with the listing price of HK$80, according to people familiar with the transactions. They declined to be identified discussing private matters.