What’s going on? Did Changxin Technology’s listing hit a cold surprise? More than 6 million shares were abandoned by subscription—are the underwriters crying in the bathroom?

Did you get the juicy scoop? The results of Changxin Technology’s STAR Market IPO really left people stunned!

6.5862 million shares! They were simply given up by online investors, and even in the offline portion, more than 30,000 shares still went untaken...

The offering price was RMB 8.66 per share, with an initial issuance size of 66.88 billion shares. Everyone was originally focused on this coveted prize, but during the payment period, so many people “ghosted.”

The underwriters had no choice but to, with gritted teeth, underwrite 6.6178 million shares—that’s real cash of over RMB 57 million 💸.

Why did retail investors collectively abandon it? Do they think it isn’t worth this price?
$CXMT ‌