Oct. 20 (Bloomberg) -- Sinohydro Group Ltd.’s shares fell as much as 7.8 percent in Shanghai trading to 4.48 yuan, below the company’s initial public offering price of 4.5 yuan for its shares.

The stock, which started trading on Oct. 18, slumped 6.8 percent to 4.53 yuan as of the 11:30 a.m. midday break.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net