Stock Track | Befar Group Plummets 20.11% in Intraday Trading on Hong Kong Debut

Stock Track07-10

Befar Group's stock plummeted 20.11% in intraday trading, marking a significant decline during the Friday trading session.

The sharp drop occurred as the chemical company made its debut on the Hong Kong exchange, with shares opening significantly lower than their final offer price of HK$3.48 per share. The stock's weak opening performance led to the substantial intraday decline.

Befar Group had raised approximately HK$1.16 billion in net proceeds from its initial public offering, pricing 352 million shares toward the upper end of its marketed range. The company's Hong Kong public offering was heavily oversubscribed at 227.58 times, while the international offering was 4.26 times subscribed.

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