【New Stock IPO】Two New Stocks Debut with Mixed Results - Kaile Technology 2729 Closes Up 84%, Gaining 2808 Yuan per Lot - Zejing Holdings 2632 Plunges 37%

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2026-03-24 15:13:16

Abstract generation in progress

Logistics robot provider Kellett Technology (02729), Mainland China automotive HUD (Head-Up Display) manufacturer Zejing Holdings (02632) both debuted with individual performance. Kellett Technology opened at HKD 32, up 92.1% from the IPO price of HKD 16.66, closing the day up 84.3%, with a profit of HKD 2,808 per lot.

Zejing Holdings opened at HKD 43.9, slightly below the IPO price of HKD 44.2, down 0.7%, then rapidly declined, closing at HKD 27.88, down 36.9%, resulting in a loss of HKD 816 per lot (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 oversubscribed by 2.37 times with 123 subscribers.

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

Both 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. For 200 shares per lot, profit exceeds HKD 2,700 per lot.
Zejing Holdings: on Bright, YoY, Zejing dark pool rose by 1% and nearly 3%, with a profit of HKD 23 and HKD 65 per 50 shares; Futu dark pool increased by 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 200 shares (HKD)
Bright	30.42	+82.6%	+2,752
Futu	30.52	+83.2%	+2,772
YoY	30.5	+83%	+2,768

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

Zejing Holdings (2632) dark pool performance

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

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

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