Cre8 Enterprise Limited shares fall 17.76% intraday after closing its initial public offering.

Cre8 Enterprise Limited dropped 17.76% in intraday trading, following the announcement of the closing of its initial public offering (IPO) of 1,450,000 Class A ordinary shares at $4.00 per share. The company received gross proceeds of approximately $5.8 million from the offering, which commenced trading on the Nasdaq Capital Market under the ticker symbol 'CRE'.