HONG KONG -- Chinese artificial intelligence company Mobvoi went public in Hong Kong on Wednesday and saw its stock promptly drop more than 20% during midday trading, marking the exchange's third dismal listing this week.
The company's shares opened at 2.98 Hong Kong dollars, well below the offer price of HK$3.80, while the Hang Seng Index edged higher. Mobvoi recovered to end the day at HK$3.68, still 3.4% below the IPO price.
