Shares of companies that enjoyed the highest demand during the IPO on the stock exchange in Hong Kong, showed the most significant decline, Bloomberg reports. Thus, the demand for Ping An Healthcare & Technology shares in May was 650 times higher than the offer, and Ascletis Pharma's offer was 10 times lower than the demand. For the period from IPO to the present, the value of the securities of the first company fell by 37%, the second one - by 44%. At the same time, stocks of companies which IPOs have caused much less interest show growth. Bloomberg gives an example of a 35% increase in shares of pharmaceutical company Innovent Biologics, the demand for which during the IPO exceeded the supply by only 10%.