Shares in food and beverage maker Want Want China Holdings slid 2.7% today (26 March) as the firm debuted on the Hong Kong stock exchange.
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The Taiwanese snack manufacturer had raised a total of US$1bn in a Hong Kong initial public offering. Shares had traded at HK$3 per share in the IPO.
However, the stock had slid to HK$2.89 as just-food went to press.
Commentators blamed volatile market conditions for the company’s disappointing showing. With the international markets under increasing pressure, investors are hesitant to buy stock in companies that are new to the exchange.
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