【New Stock IPO】Ludong Robotics 1236 first-hand winning rate 0.8% oversubscribed 6,706.7 times, second highest oversubscription on the main board this year dark pool closes up 90% to 1.5 times

Mainland robot company LeDong Robotics (New Listing Number: 01236) announced the allotment results, with 296.7k applications received in the public offering, oversubscribed by 6,706.66 times, second only to Tianxing Medical (01609).
Oversubscription multiple of 7,822.13 times, becoming the second most oversubscribed new stock on the main board this year.

LeDong Robotics’ first-day winning rate is 0.8%, even with a HKD 50.5 million investment from major investors in the “Head Hammer Flight,” 29% still missed out.
The international placement received 111 allottees, oversubscribed by 8.54 times.

LeDong Robotics will list next Monday (May 11), with trading in the dark pool starting today.
Its dark pool initial trading price on Futu once reached HKD 96, 2.6 times higher than the IPO price of HKD 26.36, with a 200-share lot earning nearly HKD 14k on paper.

Ultimately, the three major dark pool venues saw a significant decline in gains, with Futu performing the best, closing up 1.5 times, earning HKD 7,828 per lot;
Bright Talent and YaoCai both rose about 90%.

With an offering of 33.33 million shares, LeDong Robotics’ IPO raised nearly HKD 880 million;
The original IPO price range was HKD 24 to HKD 30.
Entry fee: HKD 6,060.50.
Haitong International and Guotai Junan International are joint sponsors.

“Head Hammer Flight” still has a chance to miss out

LeDong Robotics completed its IPO subscription on May 6, with brokers gradually announcing the allotment results on Thursday.
According to screenshots from social media platforms, retail investors who subscribed for 8,333 lots (296.7k shares, worth HKD 50.5 million) in the “Head Hammer Flight” still missed out.

With a margin rate of 6.8%, leverage of 10 times (borrowing 90%), and a handling fee of HKD 100,
based on the IPO price of HKD 26.36, the cost of subscribing for one “Head Hammer Flight” lot with margin is about HKD 8,620.
If a retail investor only gets 1 lot, LeDong Robotics would need to rise 163.5% to HKD 69.46 to break even.
However, some brokers have waived margin interest and now charge a subscription fee per “flight” instead.

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