Beijing (People's Daily) - RYB Education, Inc., the first Chinese preschool education group that went public in New York Stock Exchange in September with an IPO price of $18.5 per share, nearly lost half its value on Friday in pre-market trading after one of its Beijing-based kindergartens allegedly involving of child abuse. 

The shares of RYB fell nearly 48 percent to $14 on Friday, financial website jrj.com.cn reported.

Photo: eastmoney.com

The company’s performance in stock market was greatly impacted by the child abuse scandal that roiled the whole country on Thursday. Some investors have expressed their wishes of short selling of its stocks.

Photo: eastmoney.com

 (Compiled by Fang Tian)