A listing ceremony marks the arrival of Chinese AI company Mobvoi on the Hong Kong market on April 24. (Photo by Echo Wong)
ECHO WONG, Nikkei staff writer |
HONG KONG — Chinese artificial intelligence company Mobvoi went public in Hong Kong on Wednesday and saw its stock promptly drop more than 20%, marking the exchange’s third dismal listing this week.
The company’s shares started trading at 2.98 Hong Kong dollars, down from the offer price of HK$3.80, while the Hang Seng Index edged higher. Mobvoi recovered slightly to end the morning session at HK$3.11.
