Social media big Weibo has made its Hong Kong inventory market debut as Chinese language expertise companies come beneath intense stress at house and overseas. Weibo’s shares fell by greater than 6% within the first couple of minutes of buying and selling.
The agency joins different main Chinese language expertise corporations, together with Alibaba and JD.com, that are listed in each the US and Hong Kong.
It comes simply days after Chinese language ride-hailing big Didi stated it’ll transfer its itemizing to Hong Kong from the US. Weibo raised $385m (£290m) from the secondary share itemizing in Hong Kong.
The corporate’s US-listed shares have misplaced round a 3rd of their worth within the final six months.