Hong Kong’s biggest listing so far this year flopped in its trading debut, a troubling sign for a market that has been trying to recover from a long IPO slump
ZJLD Group Inc., a maker of a popular fiery spirit called baijiu, started trading on Thursday after raising the equivalent of $676.
4 million in its initial public offering. Shortly before the market opened, executives downed shots of the company’s flagship Zhen Jiu liquor at a listing ceremony at Hong Kong’s stock exchange.
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