Cotuo Holdings Shares Surge Over 200% in Gray Market Trading on First Day

According to Guiyang Finance, Cotuo Holdings (stock code 02272), a leading smart parking operator in China, surged over 200% in gray market trading today, with prices hitting as high as 120 Hong Kong dollars compared to the initial offering price of 39.55 Hong Kong dollars. As of reporting, the stock was trading at approximately 117 Hong Kong dollars, up 195.83%, with turnover of around 58.7 million Hong Kong dollars. The public offering portion recorded over 2,115 times subscription, attracting 166,000 investors with total subscription funds of approximately 85.5 billion Hong Kong dollars.
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