Shares in Chinese baby-food maker Yashili International slid on their first day of trading in Hong Kong today (1 November).
Yashili’s shares ended the day at HK$3.68, over 12% lower than the IPO price of HK$4.20
Last week, it emerged that Yashili had raised US$349m from IPO by selling 644m shares at HK$4.20 each.
Rival Chinese dairy group Global Dairy Holdings made its stock-market debut on Thursday (28 October) and saw its shares fall 10% on their first day of trading. Global Dairy’s shares stood at HK$3.88 at the end of trading today, down 12% from the company’s IPO price.