On July 16, Rigol Technologies (00537.HK) fell 5.11% in regular trading, trading at 25.64 HKD/share, with turnover of approximately 29.12 million HKD. The decline marks the end of a brief two-day rebound attempt following the stock's troubled Hong Kong debut.
Rigol's H-shares listed on July 9 at an offer price of 45.98 HKD per share, breaking on day one with a 37.36% decline to close at 28.8 HKD. The stock continued sliding, with cumulative losses from the IPO price exceeding 43% at one point. A brief technical rebound on July 14-15 failed to hold, with selling pressure re-emerging.
Market analysis points to several structural headwinds: the IPO was conducted without a greenshoe stabilization mechanism, leaving no price support buffer; Hong Kong investors remain skeptical of the company's valuation exceeding 100x PE; global market share stands at only 1.2%; and H-shares trade at a discount of over 50% to the A-share listing. The 356-fold retail oversubscription during the bookbuild contrasts sharply with post-listing sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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