Stock Track | Taimei Tech Shares Plunge 27.54% in Disappointing Trading Debut

Stock Track10-08

Shares of Zhejiang Taimei Medical Technology Co Ltd (02576.HK) plummeted 27.54% to HK$10.44 on its trading debut in Hong Kong on Monday, significantly underperforming its initial public offering (IPO) price of HK$13.00 per share.

The medical technology company had priced its IPO at the top end of the expected range, raising around HK$335 million (US$42.6 million) from the global offering. However, the stock opened about 14% lower at HK$11.24 on its first trading day, marking a disappointing start for the company's public listing.

Analysts attribute the sharp decline in Taimei Tech's stock price to concerns over the company's growth prospects and valuations. The weak trading debut suggests that investors may have had doubts about the company's ability to deliver on its ambitious expansion plans or justify its premium valuation in the highly competitive medical technology market.

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