Last updated 18:35:04
HK$21.02
+4.63%
- Listing price
- HK$20.09
- Open
- —
- High
- —
- Low
- —
- Bid / Ask
- — / —
- Volume
- —
Turnover —View source
WOER
09981A+HListed新材料 · 深圳沃尔核材股份有限公司是一家在中国注册的股份有限公司，主要从事热缩材料的研发、生产和销售。
WOER (09981) is a listed Hong Kong IPO. This page brings together the offer price, entry fee, subscription timeline, grey-market context, allotment data and stage-based reference research in one place.
- Offer price
- HK$20.09
- Final offer price
- HK$20.09
- One-lot win rate
- 0.3%
- Proceeds
- HK$2.81B
- Public oversub.
- 569.6x
Predicted 3.7%
Lot / entry fee 200 shares · HK$4K · Sponsor China Securities International / China Merchants Securities
- Offer starts Feb 5
- /Offer closes Feb 10
- /Grey market Feb 12
- /Listing Feb 13Now
SubscriptionWOER: subscription-stage reference
The subscription stage draws on the prospectus, sponsor record and early public filings. Allotment results and grey-market prints have not occurred yet.
Earlier stage- Reference rating
- Neutral
- Reference score
- 68.5
- Forecast grey range
- -4.5% – +19.3%
Pre-greyWOER: pre-grey-market reference
The pre-grey stage includes published allotment and public oversubscription data. Grey-market prints are not yet reflected here.
Earlier stage- Reference rating
- Neutral
- Reference score
- 73.2
- Forecast grey range
- -2.2% – +21.4%
Post-greyWOER: post-grey-market reference
The post-grey stage includes grey-market price and turnover observations. Listing-day results still follow official trading and company announcements.
Current- Reference rating
- Neutral
- Reference score
- 69.7
- Forecast first-day range
- +1.2% – +15.8%
Data updated · Sep 22, 2026, 12:02 HKT
View factors and research
Model forecastListing-day trendNeutral watchUp probability 51.4%
Published outcome check
First-day resultFlat+2.9%
Our call: Neutral watch
Covered 20/25 core factors
UsedMissingNot yet scorableN/A
Margin oversubscription
High heatOffer size
Weaker qualityCornerstone lockup
Average supportPost-lockup offer value
Weak scarcityRecent same-rule trend
Strong trendRecent same-type trend
Weak trendRecent sector trend
—Valuation
Weak appealFundamental quality
Good qualityGrowth quality
Average qualityProfitability
High qualityCash runway
—Customer concentration
Lower riskCornerstone quality
Strong supportSponsor record
Strong recordGreenshoe arrangementNo greenshoe
Stabilizer track record
—A-share pre-grey trend
Neutral trendA-share listing-day trend
Neutral trendPublic oversubscription
High heatOne-lot win rate
High heatInternational placing
High heatFinal pricing position
—Actual greenshoe use
—Grey market return
Neutral trendThe assessment and probability ranges are informational only and are not investment advice.
AI Research Report
Post-greyThe analysis report for this IPO is being generated.
WOER: grey-market trend
WOER: predicted allotment
Data updated · Sep 22, 2026, 14:40 HKT
Only key tiers are shown here. Full tiers and other allotment-pattern comparisons are on the allotment-odds page.
- 1 lot
- 3.7%
- A tail · Apply 1,000 lots
- 0.73 lots
- B head · Apply 1,500 lots
- 1.39 lots
- Top hammer
- 32.48 lots
Predicted
Official
0.3%
Predicted
Official
3.24 lots
Predicted
Official
1.81 lots
Predicted
Official
42.12 lots
Most likely allotment pattern：Larger Pool A applications get less extra allotment；Pool B allotment is similar across tiersExtra watch · Compare first Flat + FlatView full allotment-odds research
How to read this page
These answers combine this IPO’s published figures with clearly labeled model estimates. They explain how to read the modules above and are not investment advice.
What is the one-lot allotment rate for WOER?
Public allotment filings put the official one-lot rate at 0.3%, versus this site's pre-allotment model estimate of 3.7%. It is an observation for a 1-lot application, not a guaranteed result.
What is the difference between A-tail and B-head for WOER?
Based on the prospectus's legal application tiers, A-tail is 1,000 lots and B-head is 1,500 lots, representing about HK$4.0M and HK$6.0M of application principal. Official average allotment was 3.24 lots and 1.81 lots, versus pre-allotment model estimates of 0.73 lots and 1.39 lots. Pool A and Pool B are allocated separately, so application size alone does not show capital efficiency.
Can the grey-market price of WOER be treated as the listing price?
The compiled grey-market observation is about +4.6%, versus +2.9% on the listing day. Grey-market prints are pre-listing sentiment from public sources, not the official opening price.
Why does WOER have three reference ratings?
The current status is "Listed", so start with the post-grey section. Subscription, pre-grey and post-grey each use only the public information available at that point, so the score can change. Labels are high attention / neutral / caution only — informational comparison, not a buy or subscribe call.