Tuesday, July 16

Hong Kong

Shares of China’s Sichuan Baicha Baidao, also known as ChaPanda, saw a steep decline in its debut on the Hong Kong Stock Exchange despite raising over $330 million in its initial public offering (IPO).
IPO and market debut: ChaPanda’s shares were initially priced at 17.50 Hong Kong dollars ($2.23) each, marking the city’s largest IPO so far in 2024. But on Tuesday, they opened 10.1% lower and closed 26.9% lower at 12.80 Hong Kong dollars ($1.63).

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