Sinda Ltd. (SIND) experienced a significant intraday decline of 9.21% on Friday, as the silver miner's shares began trading below their initial public offering price.
The company's IPO was priced at $12 per share, raising $213 million. However, indications ahead of the trading session showed the stock was expected to open in the range of $11 to $11.50, representing a substantial discount to the IPO price.
This opening below the offering price reflects market sentiment and demand for the newly listed shares, contributing to the sharp decline in Sinda's stock price during the trading session.
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