Data layers Raw facts Calculated Model prediction AI interpretation

Allotment Overview Calculated

Total Subscription Fees vs Public Offering Raise Amount

Subscription Tier Analysis Model prediction

Expected Lots Allotted by Subscription Tier

Pool A applications , Pool B applications . Expected lots allotted = "Approximate percentage of total shares applied for" as stated in the allotment announcement × shares applied ÷ lot size, taken directly from the announcement.

Capital Efficiency by Subscription Tier

Capital efficiency = Expected shares allotted ÷ shares applied × 100, i.e. the original "Approximate percentage of total shares applied for" value from the allotment announcement. The fewer shares applied for, the higher the capital efficiency.

Applicant Distribution by Subscription Tier

The vertical axis uses a logarithmic scale to better observe distribution differences across tiers of varying magnitudes. All four charts share the same x-axis; hover tooltips are synchronized.

Subscription Fee ÷ Allotted Market Value by Tier

Allotted market value = valid applicants × shares applied × (percentage applied for ÷ 100) × offer price; total handling fees = valid applicants × HKD 100; ratio = total fees ÷ allotted market value × 100%. Lower tiers have disproportionately high ratios due to very small allotments; ratios stabilize at higher tiers.

Allotment Results Subscription Tier List

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International Offering Raw facts

22.69
International oversubscription
172
Placee count
27
Cornerstone investors
145
Anchor investors

Cornerstone investors

Name Shares allotted % of global offering % of post-IPO shares Lock-up
3W Funds 0 1.50% — 6 months
Arc Avenue Asset Management Pte. Ltd. 0 3.01% — 6 months
Boyu Capital Opportunities Master Fund 0 3.01% — 6 months
China Orient Multi-Strategy Master Fund 0 0.52% — 6 months
Cithara Global Multi-Strategy SPC — Disruptive Innovation Investment Fund SP 0 0.60% — 6 months
CPE Peepal Investment Limited 0 4.51% — 6 months
HHLR Advisors, Ltd. 0 4.51% — 6 months
Perseverance Asset Management International (Singapore) Pte. Ltd. 0 3.01% — 6 months
Source Code Super Holdings Co. 0 1.50% — 6 months
UBS Asset Management (Singapore) Ltd. 0 4.51% — 6 months
WT Asset Management Limited 0 1.50% — 6 months
Yield Royal Investment Holding (Singapore) PTE. LTD. 0 2.26% — 6 months
富国基金管理有限公司 0 2.00% — 6 months
富国资产管理(香港)有限公司 0 1.00% — 6 months
工银理财有限责任公司 0 1.50% — 6 months
广发国际资产管理有限公司 0 1.20% — 6 months
广发基金管理有限公司 0 1.80% — 6 months
华夏基金(香港)有限公司 0 0.60% — 6 months
惠理基金管理香港有限公司 0 0.60% — 6 months
景林资产管理香港有限公司 0 1.30% — 6 months
宁远资本有限公司 0 1.50% — 6 months
盘京港景投资基金 0 0.60% — 6 months
上海景林资产管理有限公司 0 1.70% — 6 months
未来资产证券(香港)有限公司 0 3.01% — 6 months
易方达基金管理有限公司 0 0.90% — 6 months
招商证券投资管理(香港)有限公司 0 0.30% — 6 months
钟鼎资本八期投资有限公司 0 1.50% — 6 months

International concentration

Rank % of international placing % of global offering
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AI AI Analysis AI interpretation deepseek-v4-pro · AI-generated
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The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.

Market Sentiment

Sentiment was exceptionally strong, with the IPO oversubscribed 1138 times, indicating intense demand for this semiconductor listing. The overall hit rate of 17.08% meant over 80% of applicants received no allocation, despite reallocation from institutional to retail. This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.

Tier Analysis

Noticeable inefficiency at the A-tail to B-head boundary: A-tail applicants expected only 0.96 lots while B-head applicants received a full lot, despite the marginal increase in subscription size. This cliff effect underscores the importance of precise lot sizing in a 'no clawback' mechanism B structure, though broker fee structures vary and actual costs may differ. This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.

Demographics

Mainland investors dominated with a 67.5% participation rate, a common pattern in hot Hong Kong IPOs, reflecting cross-border enthusiasm for semiconductor exposure. The applicant base skewed male at 58.5% and had an average age of 43, suggesting mature retail investors with significant capital. This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.

About this page

This page shows allotment analysis for Gpixel (03277): one-lot hit rate, Pool A/B allotment distribution, oversubscription multiple, and grey-market and first-day performance. Data is parsed from the HKEX allotment results announcement. How allotment rates and clawback work is explained in How Hong Kong IPO Allotment Rates Work.

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