China’s initial public offerings stall

China's red-hot initial public offering market is cooling off. Of the 15 largest IPOs to have debuted on the mainland this year, the share prices of eight are now below their first-day close…

China's red-hot initial public offering (IPO) market is cooling off. Of the 15 largest offerings to have debuted on the mainland this year, the share prices of eight are now below their first-day close, says The Economist.

In Hong Kong, Sinotruk (3808), China's number-three lorry maker, and dry bulk carrier Sinotrans Shipping (0368), both slid sharply on the first day of trading in late November; until 20 November, major flotations were returning an average one-day pop of 30%, says Lex in the FT.

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