Panda-Recruit prices IPO shares at HK$0.28, lowest ever

Panda-Recruit, an online recruiter, priced shares in its initial public offering at HK$0.28, the lowest ever set by a company seeking a listing on the Growth Enterprise Market.

Panda-Recruit, a Hong Kong job hunting service, priced its shares at HK$0.28 each, the lowest ever for a Growth Enterprise Market stock, as start-ups race to secure at least some of the dwindling dollars  investors are prepared to put into new online or technology companies.

The Hong Kong-based company, which lost HK$6.2 million $795,000 in the first five months of this year, cut its price target by half rather than be shut out of the market altogether. It plans to sell 225 million shares to raise HK$63 million. Trading in the shares begins July 20.

The company plans to use the money to expand its...

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