Hong Kong's two biggest IPOs this year sink on trading debuts

Chinese EV maker Zhejiang Leapmotor dives 33.5% after $800m share sale

20220929 leapmotor and HKEX image

Hong Kong's IPO market has suffered so far this year, with only $7.7 billion raised by mid-September, the lowest since 2013. (Source photos by Reuters and Getty Images)

ECHO WONG, Nikkei staff writer

HONG KONG -- Hong Kong's two biggest share listings this year sank on their trading debuts Thursday, with Chinese electric vehicle maker Zhejiang Leapmotor Technology plunging nearly 34%, in a blow for the city's weakest IPO market in a decade.

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