HANXBIO-B (03378) saw its shares plummet by 9.56% during intraday trading on Tuesday, following its debut on the Hong Kong stock exchange. The stock opened at HK$28.9, significantly below its final offer price of HK$32.00 per share.
The sharp decline reflects weak investor sentiment or lack of demand for the stock at its initial offering price. The opening price below the offer price suggests that market participants were unwilling to pay the IPO price, leading to immediate downward pressure on the stock.
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