Senasic (6675.HK) plunged 16% during Hong Kong trading to HKD 34.96 on the first day since listing. The stock closed up 127% at HKD 41.7 yesterday following an IPO issue price of HKD 18.36, hitting an intraday low of HKD 33.78 today.

The Hang Seng Index fell more than 2% today, pressuring the broader market. Senasic, a global leading automotive wireless sensor SoC supplier, has cornerstone investors including Sunwoda and Baolong Automotive. The IPO public offering received approximately 5,145 times oversubscription.