Obook Shares Sink Following Public Debut

Dow Jones

Oct 17

By Connor Hart

Shares of Obook Holdings tumbled Friday, a day after they began trading on Nasdaq.

The blockchain-technology company, which operates as OwlTing Group, completed its direct listing Thursday, with shares opening at $68, or nearly seven times their reference price of $10.

The stock ended Thursday's session lower, closing at $55.55. It has continued to fall Friday, recently trading hands at $33.39 a share, having lost half of its value since its debut.

Chief Executive Darren Wang said the stock's debut represents an important milestone for the Taiwan-based company. Investor reaction, he added, underscores confidence in its goal to leverage blockchain technology and transform global payments through regulated stablecoin infrastructure.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 17, 2025 10:48 ET (14:48 GMT)

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