(Oct 23): Investors in a snack maker’s initial public offering in Hong Kong were sitting on losses just minutes after watching the shares almost triple.

Shares in Singapore-based Snack Empire Holdings surged as high as 188% on their debut on Wednesday, before sinking into the red 45 minutes later. The retail portion of the HK$130 million ($22.6 million) IPO was almost 14 times subscribed.

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