The price of Concepcion Industrial Corp.’s (CIC) shares slumped by more than 3 percent during its official listing day at the Philippine Stock Exchange on Wednesday.

CIC, a supplier of air-conditioning and refrigeration appliances, saw its shares slumped to P25.15 a share during the market recess, which is 3.27 percent lower than its listing price of P26 apiece. Toward the end of the session, the price for CIC share settled at P25.85 a share, still down, albeit flat, by 0.58 percent.

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