Eternal Beauty (06883) saw its stock price plummet by 7.64% during the opening of Thursday's trading session, following the announcement of its final offer price for its global offering. The company set the price at HK$2.88 per offer share, a figure that appears to have disappointed investors.
The global offering, a significant event for Eternal Beauty, was closely watched by market participants. The final pricing at HK$2.88 per share suggests that the company and its underwriters may have faced challenges in drumming up strong demand for the shares at a higher price point. This could indicate concerns about the company's valuation or future growth prospects.
The sharp decline in Eternal Beauty's stock price reflects a negative market reaction to the pricing news. Investors may be interpreting the offer price as lower than expected, potentially signaling weaker-than-anticipated demand for the company's shares or concerns about its market position. As trading continues, it remains to be seen whether the stock will stabilize or if this downward pressure will persist in the near term.