Saluda Medical slumps nearly 50% in bruising ASX debut

Australian-listed shares of Saluda Medical SLD.AX sinks as much as 46.98% to A$1.405 in bruising ASX debut

U.S.-based medtech firm raises A$231 million ($152.67 million) in ASX listing

Co sold 87.1 mln new CHESS Depositary Interests at A$2.65 each, pegging market value near A$775 mln at listing

Founded in Sydney in 2010, SLD developed FDA-cleared Evoke spinal cord stimulation, a closed-loop platform that measures and adapts therapy in real time using neural biomarkers

Stock last down 39.81%

($1 = 1.5131 Australian dollars)