Oct 19, 2022 07:44 PM

BUSINESS

Chinese Metaverse Firm Flowing Cloud Drops in Hong Kong Debut

By Guo Yingzhe and Guan Cong

On October 18, Flowing Cloud was listed on the main board of Hong Kong Stock Exchange with the stock code of 06610.HK. Photo: Flowing Cloud

On October 18, Flowing Cloud was listed on the main board of Hong Kong Stock Exchange with the stock code of 06610.HK. Photo: Flowing Cloud

Chinese metaverse firm Flowing Cloud Technology Ltd. saw its Hong Kong shares fall on their first two days of trading as speculation on the hype around the emerging industry cools off.

Flowing Cloud’s share price dropped 4.3% to HK$2.1 (27 U.S. cents) apiece on Wednesday, extending a 4.1% drop on the shares’ debut after the company raised HK$532 million in its IPO.

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