Vanke’s Property Management Unit Slides Further After Hong Kong Debut Flops

What’s new: Chinese property management services provider Onewo Inc. saw its Hong Kong stock tumble 3.5% to HK$44.4 ($5.70) on Friday, extending a 6.8% debut-day loss as investors lowered valuations across the sector amid turmoil in the real estate market.

The subsidiary of developer China Vanke Co. Ltd. (000002.SZ) raised HK$5.6 billion in its IPO on Thursday, when shares were sold at the midpoint of their range at HK$49.35 apiece.