Shares of Xunlei Limited (XNET) slipped over 18% on Wednesday morning after the company announced that its investee company, Arashi Vision Inc. has completed its initial public offering on the Shanghai Stock Exchange.
XNET is currently trading at $5.25, up $1.17 or 18.19%, on a huge volume of 5.4 million shares, above average volume of 0.6 million, on the Nasdaq. The stock opened its trading at $6.53 after closing Tuesday at $6.42. The stock has traded between $1.46 and $7.19 in the past 52-week period.
Xunlei announces that its investee company, Arashi Vision Inc. has completed its initial public offering on the Shanghai Stock Exchange STAR Market under the stock ticker 688775 on June 11, 2025.
As of the date of this press release, Xunlei holds approximately 7.8% the equity interest in Arashi Vision.
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