Shares in embattled Chinese property developer Evergrande have fallen almost 80% in their first day of trading in Hong Kong for a year and a half.
The shares have lost more than 99% of their value in the past three years as Beijing cracked down on property firms.
Evergrande is at the centre of a real estate market crisis threatening the world’s second largest economy.
On Sunday, the firm posted a 33bn yuan ($4.5bn; £3.6bn) loss for the first six months of the year.
However, that was an improvement on the 66.4bn yuan loss it reported for the same period a year earlier.
The company’s directors “have taken a number of measures to improve the liquidity position and financial position of the group,” Evergrande said in a filing to the Hong Kong Stock Exchange.
