Meituan continues to deal with pressure on its Hong Kong-listed shares, following a fall that has actually left shares worth less than its IPO cost of HK$ 69 by Wednesday’s close, plunging the business’s market price more than 80% listed below its peak of 3 years earlier. The food shipment huge invested an overall of HK$ 2.4 billion in share buybacks on 6 successive trading days considering that Jan. 10, however this appears to have had a minimal effect on dropping stock rates. Financiers have actually decreased their self-confidence in Meituan as the business fights with aggressive competitors from peers consisting of ByteDance and downturn issues about its core takeout company. [TechNode reporting]
Meituan shares drop below its IPO price despite ongoing buybacks
