Chinese AI satellite maker Adaspace Technology slips in Hong Kong debut after $96 million IPO
Chinese artificial intelligence satellite maker Adaspace Technology made a subdued debut on the Hong Kong stock market on Friday, with its shares falling as much as 1.8% after raising HK$750 million ($95.6 million) through an initial public offering (IPO).
The stock opened at HK$24.44, below its IPO price of HK$24.90, and was last trading at HK$24.60, down 1.2% from the offer price. The benchmark Hang Seng Index was down 0.5% during the session.
