Chabaidao Stock Drops 27% in Biggest IPO of the Year

Tuesday, 23 April 2024, 09:01

Chabaidao, a Chinese bubble-tea maker, faced a turbulent debut on the Hong Kong stock market with its shares plunging by 27%. The company raised approximately HK$2.6 billion from the sale of 147.8 million shares at HK$17.50 each, but investor sentiment led to a significant drop in its valuation within hours.
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Chabaidao Stock Drops 27% in Biggest IPO of the Year

Chabaidao IPO Fallout

Chabaidao, a Chinese bubble-tea maker, encountered a rough start in the Hong Kong stock market as its stock price tumbled by 27% on the debut day, reaching as low as 38% at one point. The company managed to secure about HK$2.6 billion from the sale of 147.8 million shares priced at HK$17.50 per share.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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