Home Business Weibo drops 7% on its first day of listing in Hong Kong, casting a shadow on China’s concept stocks “returning to Hong Kong”-BBC News

Weibo drops 7% on its first day of listing in Hong Kong, casting a shadow on China’s concept stocks “returning to Hong Kong”-BBC News

by admin

Image source,FLORENCE LO

Chinese social media giant Weibo went public in Hong Kong on Wednesday (December 8). It broke on the first day of listing and closed down 7.18%.

As the Sino-US relations are guilty, a large number of Chinese Internet companies that have gone public in the United States in the past ten years have chosen to “return to Hong Kong for secondary listing” or even “return to the United States and return to Hong Kong.”

At the same time, under the dual regulatory pressures of China and the United States, the valuation of China‘s concept stocks, which was once a “fragrant” in the international market, is also declining.

Weibo controversy

In April 2014, Weibo was listed on the Nasdaq in the US stock market. Today, 7 years later, it is listed in Hong Kong for a second time.

0 comment
0

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy