Bubble Tea Chain Chabaidao Plunges 40% – Shocking Stock Market Debut!
Hong Kong – Shares of the Chinese bubble tea chain Chabaidao experienced a significant drop of nearly 40% during its initial public offering on the Hong Kong stock exchange. The stock, officially listed as Sichuan Baicha Baidao Industrial, fell to 10.84 Hong Kong dollars, a substantial decline of about 38% from its IPO price. The bubble tea firm’s IPO made it the largest listing in Hong Kong in 2024 so far, resulting in net proceeds …