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Minimax shares fall as much as 6.2%, dipping below IPO price in Hong Kong
In short
Minimax shares fell as much as 6.2% on 22 October and dropped below the IPO issue price, CLS and 36Kr reported. Yicai described the stock as listed in Hong Kong. 36Kr also said the Hang Seng Index was down more than 2%.
Why it matters
The documents are short market bulletins, so they give no reasons for the fall or any wider effect. They show that Minimax traded below its IPO price during the morning session, as reported by business and tech outlets.
Key facts
Confirmed by several sources
Still unclear
- Why Minimax shares fell. None of the documents gives a cause.
- How far the Hang Seng Index fell. Only 36Kr mentions the index, saying it was down more than 2%.
- The IPO issue price and the share price level. The documents give no price figures.
What local media are saying
Business mediaCLS and Yicai ran brief bulletins saying Minimax fell below its IPO price; CLS gave the 6.2% intraday drop and Yicai noted the Hong Kong listing.
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Technology media36Kr reported the same 6.2% drop below the IPO price and added that the Hang Seng Index was down more than 2%.
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Timeline, local time
- CLS reported that Minimax had fallen as much as 6.2%, below the IPO issue price. [ 1 ]
- 36Kr reported that the Hang Seng Index was down more than 2% and that Minimax had at one point fallen 6.2%, below the IPO issue price. [ 2 ]
- Yicai reported that Hong Kong-listed Minimax had fallen below its earlier IPO issue price. [ 3 ]