[ET Net News Agency, 5 November 2025] PONY-W (02026) will be listed tomorrow (6th). It
is currently at HK$119.5 on Phillip's grey market, 14% lower than the grey market's IPO
price of HK$139. Based on 100 shares per lot, excluding handling fees, the book value loss
per lot is HK$1,950. It is currently at HK$102.4 on Bright Smart's grey market, 26.3%
lower than the grey market's IPO price. The book value loss per lot is HK$3,660.