A grey market premium is the price at which unlisted shares change hands informally before a listing, quoted as a premium to the IPO price. It is not an official price and is not regulated, but it is read as a rough measure of retail enthusiasm.
灰市溢价 —— 上市前未上市股票私下成交的价
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| 19% | Mukesh Ambani's Jio seeks a $108 billion valuation in a record Indian IPO 灰市溢价 —— 上市前未上市股票私下成交的价 · 第 9 张术语卡 | Jio shares were quoted at a premium of about 218 rupees, or 19%, implying a listing price of 1,337 rupees against the top of the band at 1,119 rupees. 灰市溢价在印度（以及此前的中国香港）是散户情绪的非官方温度计。它有用的一面：溢价高说明需求可能很强、上市首日容易上涨。它危险的一面：① 成交规模极小，几个人就能把报价推上去；② 它无法反映上市后几周的真实供需；③ 高溢价会反过来鼓励公司把发行价定高，从而压低上市收益。专业做法是把它当参考、不当依据 —— 真正决定回报的是买入时对应的估值倍数，以及公司盈利能不能跟上。 |