By Ben Glickman
Shares of Solowin Holdings dive on Monday after the completion of the company’s initial public offering.
The stock was down 31% to $3.38 Monday, reaching a low of $2.98. Shares reached a high of $12.74 on the first day of trading Sept. 7.
The Hong Kong-based securities brokerage company, which operates as Solomon JFZ, offered 2 million shares at $4 a share. The company said its offering closed Sept. 8, with gross proceeds of $8 million.
The company said in a regulatory filing that it planned to use the proceeds from the IPO for improving its offerings, including its trading application and investment advisory services, and fund capital requirements.
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