TRANSTHERA-B plummeted 17% with a surge in trading volume as the six-month lock-up period for the base investors expired

TRANSTHERA-B (02617.HK) opened down 1.7% this morning (23rd) and the decline expanded, dropping as much as 18.8% to a low of 137 HKD. In the afternoon, it was last reported at 140 HKD, down 17.01%, with trading volume increasing to 2.008 million shares, involving 294 million HKD.

The company was listed on June 23 at a price of 13.15 HKD per share, and the six-month lock-up period for cornerstone investors expires today. The stock had surged over 50 times in less than three months after its listing, reaching a high of 679.5 HKD before closing lower on the same day. At the current price, it is still more than 9.6 times higher than the listing price