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Hyperliquid Launches Long Semiconductor IPO Perpetual Contracts at $7.2 Per Share Overnight Before IPO, 6x Premium

GateNews
Derivatives Data
HYPE-0.22%

According to Guru Club, Hyperliquid went live with perpetual contracts on Long Semiconductor (长鑫科技) on the night before the company's July 16 IPO application on Sci-Tech Innovation Board. The contract priced Long Semiconductor at $7.2 per share (approximately 52 yuan), implying a market cap of about 3.5 trillion yuan, roughly 6 times the IPO issuance value of 579 billion yuan.

Within 24 hours of launch, the contracts generated $1.32 million in trading volume with $2.41 million in open interest, marking the first time an on-chain derivatives platform has targeted an A-share IPO ahead of trading.

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