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Reuters used an interesting term to describe Changxin’s IPO: “less frenzied demand”—it’s not as crazy as before.
Changxin’s subscription allocation rate hit a new high for the STAR Market at 0.47%, with 212 times oversubscription; on paper, one lot can earn 10,000–18,000.
But this major STAR Market heavyweight also has a “curse”: it shines from the very open—take Semiconductor Manufacturing International Corporation from back then, which opened at 95 and closed at 83....