Cyrus 9927 Makes Trading Debut: Black Market Performance, subscription Results Revealed
Hong Kong – November 4, 2025 – Cyrus (9927), a leading provider of automotive lighting systems, began trading today following its initial public offering (IPO). Investors who successfully subscribed for one lot of 100 shares initially saw a profit of 1,650 yuan, though, gains have narrowed as trading activity shifted to the secondary market. The IPO price was set at 131.5 yuan.
The enthusiasm surrounding the IPO appears to be cooling, with increases in the three major retail black market trading venues diminishing. It is indeed rumored that approximately 200,000 investors participated in the subscription.The company partially exercised its right to adjust the offering volume, selling an additional 8.419 million shares – representing roughly 8.4% of the initial offering – bringing the total funds raised to nearly 14.3 billion yuan. This currently places Cyrus ahead of Sany International, which targeted 13.5 billion yuan in fundraising.
Hear’s a snapshot of Cyrus’s performance on key black market trading platforms as of today:
| Black market trading place | Cyrus quotation | Increase/decrease from the IPO price | Profit/loss (yuan) for each lot of 100 shares | Black market high and low positions |
|---|---|---|---|---|
| Terutate | 132.4 | +0.7% | +90 | 129.8-135.5 |
| Yaocai | 131.9 | +0.3% | +40 | 132.2-140.0 |
| Futu | 131.7 | +0.2% | +20 | 130.3-148.0 |
As of Tuesday, Thalys A shares closed at 154.63 yuan (equivalent to 168.78 Hong Kong dollars), a 28% premium over its H share price.
Sources: Thalys prospectus, Announcement of Seles Allotment Result
