Chabaidao Stock Drops 27% in Biggest IPO of the Year
Tuesday, 23 April 2024, 09:01
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.
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