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Chinese EV Maker Leapmotor Tumbles in Hong Kong Trading Debut

  • Company sold shares at the bottom of a marketed range
  • City’s equities index slumped this week as volatility surges
Bloomberg business news
WATCH: Chinese electric-vehicle maker Zhejiang Leapmotor Technology Co. slumped as much as 33%, while Onewo Inc., the property management unit of real estate developer China Vanke Co., fell as much as 7.9% on their Hong Kong trading debut. Filipe Pacheco reports.Source: Bloomberg

Chinese electric-vehicle maker Zhejiang Leapmotor Technology Co. slumped in its first day of trade in Hong Kong, joining a slew of listings this year that fell below their offering price in their debut. 

The shares declined as much as 15% to HK$41.00. They were sold at HK$48 apiece, the bottom of the marketed range in an offering that raised about about HK$6.3 billion ($803 million).