China’s online Q&A service Zhihu Inc. fell 11% in its U.S. trading debut after a $522.5 million initial public offering.
Zhihu’s American depositary shares, which sold for $9.50 in the IPO, closed at $8.50 in New York trading Friday.
The pricing comes as U.S.-listed Chinese firms tumbled after the Securities and Exchange Commission said it would begin to implement a law forcing accounting firms to let U.S. regulators review financial audits of overseas companies.