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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Laura He

Laura He

Before joining the Post, Laura worked for MarketWatch and The Wall Street Journal Digital Network in San Francisco and Hong Kong. She has also worked for Forbes in San Francisco and had stints at Xinhua News Agency as economics editor, anchor and financial correspondent in both Beijing and Hong Kong. She has an MA degree in digital journalism from Stanford University and passed CFA exams.