Lufax stock stumbles out of the gate, opens 14% below IPO price
Lufax Holding Ltd. (LU) picked a rough day to go public, as shares of the China-based online lender to small businesses and salaried workers opened 14.0% below the initial public offering price (http://www.marketwatch.com/story/lufax-stock-indicated-to-open-above-ipo-price-as-china-based-lender-raised-24-billion-2020-10-30) amid a sharp selloff in the broader stock market. The first trade on the NYSE was at $11.60 at 11:33 a.m. Eastern for 4.2 million shares, below the IPO price of $13.50. The disappointing opening comes as the
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 30, 2020 11:36 ET (15:36 GMT)
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