A stock brokerage in Beijing on November 20, 2018. Photo: Simon Song

China’s oldest brokerage Shenwan Hongyuan takes a nosedive as Asia’s biggest IPO of the year gets off to a dismal start

  • Shenwan Hongyuan’s shares fell by as much as 15 per cent to an intraday low of HK$3.10
  • The brokerage had priced its IPO at the bottom of a price range, and was modestly oversubscribed, indicating lukewarm response by retail investors
Topic |   IPO

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A stock brokerage in Beijing on November 20, 2018. Photo: Simon Song
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