Chinalco Mining tumbles on debut
(01-31 10:17)
Chinalco Mining Corp International (3668), a unit of Aluminum Corp of China, slumped more than 11.4 percent today on its debut on the Hong Kong stock exchange.
The company, the biggest IPO candidate so far this year, priced its offering at HK$1.75 per share.
Shares of the miner tumbled 8.57 percent below their IPO price in the gray market yesterday closing at HK$1.63, down 6.86 percent from the offer price, according to Bright Smart Securities.
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