On Friday, JD Logistics (HKG:2618), the logistics spinoff of Chinese e-commerce giant JD.com (NASDAQ:JD), made its Hong Kong Stock Exchange debut priced at $HK40.36. It hit its peak of $HK47.75 and eventually gave up those gains, closing at $HK41.70 for a 3.3% gain.
Much of this drop from the peak was due to late retail investor activity, with security filings showing that the retail portion of the IPO was oversubscribed 715 times, according to a Reuters report.
This listing is the third to raise...
https://www.freightwaves.com/news/late-investor-activity-lowers-jd-logistics-initial-stock-gains