Shares of digital retail solutions provider DMALL (HKG:2586) took a nosedive of 40.42% on Friday, plummeting in its stock market debut on the Hong Kong Stock Exchange.
The company's shares opened at HK$21.70, a staggering 28% below the initial public offering (IPO) price of HK$30.21, as investors gave a lukewarm welcome to the IPO.
The lackluster start to trading triggered further selling pressure throughout the day, resulting in DMALL's stock closing down a massive 40.42% from its IPO price on its first trading day.
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