A market hedge traders use if volatility spikes and the sell-off gets worse

The U.S.-based enterprise software firm has already seen its stock price surge by over 50% year-to-date.

The euro last traded at $1 and below in 2022, but fresh developments have put parity back on the agenda.

The IPO had raised HK$35.7 billion ($4.6 billion) according to a company filing, reportedly making it the largest global listing in 2025.