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Today is the first day mainland-focused financial services firm Guotai Junan International, has traded on the Hong Kong stock market. But it didn't perform well.
It's initial public offering price was 4.30 Hong Kong dollars per share. But it opened at 4.15, breaking its issuing price. It closed at 4.14 Hong Kong dollars per share, down more than 3 percent. The company is selling 410 million shares, and plans to raise money to expand its brokerage business.