The SME IPO Handbook · Chapter 9 of 12
Listing and After-listing Behaviour
The first day
SME shares list with a special pre-open session and different price-band rules from mainboard shares. Large moves on day one, up or down, are common.
After listing
Trading is thinner, circuit limits apply, and shares in the early period may follow special settlement rules. Understand the limits before you hold, since you may not be able to sell at the price you see.
Lock-ins
Promoter and pre-issue investor lock-ins expire on schedule, which can add selling pressure. Know the dates and track them for every SME stock you keep.
Using past data
LiveIPOData's SME market performance and Listing Gains reports show how past SME issues listed and where they traded afterwards, which is the best way to set expectations.
Key takeaways
- Day-one moves are larger and rules differ.
- You may not be able to exit quickly at the shown price.
- Track lock-in expiry dates.
- Use historical data to set expectations.