[ET Net News Agency, 5 November 2025] PONY-W (02026) will be listed tomorrow (6th). It
is closed at HK$123.5 on Phillip's grey market, 11.2% 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$1,550. It is currently at HK$122.2 on Bright Smart's grey market, 12.1%
lower than the grey market's IPO price. The book value loss per lot is HK$1,680.