IPO Grey Market | Dida Chuxing once fell 23%!

LB Select
2024.04.23 09:01

"AIGC First Stock" in Hong Kong, Chumen Wenwen, will officially debut on the Hong Kong Stock Exchange tomorrow.

Dark pool data shows that the stock once fell by more than 23%, but the decline has narrowed to 16% now, trading at HKD 3.19.

In this IPO, Chumen Wenwen plans to issue a total of 84,568,000 shares, with a sale price not exceeding HKD 4.10 per share. Of these, 76,111,000 shares will be offered to international investors, while the remaining 8,457,000 shares will be publicly offered in the Hong Kong market.

On April 19, the subscription for Chumen Wenwen closed, with oversubscription exceeding 100 times. So far, Chumen Wenwen has set a record in the Hong Kong stock market for issuing more than $40 million worth of shares with oversubscription of over 100 times since 2023.

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