Wing Lee Holdings
Switch and socket maker Wing Lee Holdings is poised to make a successful debut today, despite cautious sentiment, analysts say.
Shares fetched between $1.60 and $1.90 on the grey market yesterday, against an issue price of $1.
Henyep Securities research manager Charles Cheng said: 'It will trade [on opening] at $1.60 to $1.80 and then profit-taking will set in.' He said support should be found at $1.30.
Other brokers suggested the counter would breach $2 before falling back.
Mr Cheng said a small issue size and strong subscription rate of 312.9 times for the public portion of the offer would support an advance.