Weibo shares fall 6% below issue price on Hong Kong listing

Weibo shares fall 6% below issue price on Hong Kong listing

Weibo shares fall 6% below issue price on Hong Kong listing

Information about Weibo shares fall 6% below issue price on Hong Kong listing

Kevin David Scam or Legit


By Scott Murdoch
HONG KONG (Reuters) -Chinese social media giant Weibo Corp’s shares debuted 6.1% below their issue price in Hong Kong on Wednesday, as it became the latest U.S.-listed China stock to seek out a secondary listing closer to home.
The Hong Kong debut was in line with a fall in Weibo’s primary listing in New York after a torrid week for U.S.-listed China shares, which are facing greater U.S. regulatory scrutiny and also under pressure from Chinese authorities.
Weibo, which raised $385 million for its Hong Kong listing, opened at $256.20 and dipped as low as $254 after pricing its shares a week ago at HK$272.80.
“The listing market in Hong Kong is very lukewarm right now,” said Dickie Wong, Kingston Securities executive director.

Read More on Datafloq

Breaking Story – Weibo shares fall 6% below issue price on Hong Kong listing

The Latest News on Weibo shares fall 6% below issue price on Hong Kong listing

Source link
Category – Automation

Leave a Reply

Your email address will not be published. Required fields are marked *