UPDATE 3-China's Pangda shares plunge 23 pct on Shanghai debut

Newswire

* Pangda's share drop reflects weak market sentiment, auto market * Investors find it hard to evaluate China's 1st car dealer IPO-analyst * Companies raise $16.9 bln in Shanghai, Shenzhen ytd vs $4.2 bln in HK (Updates with closing share price, graphic on top IPOs) By Fang Yan and Ai Peng Soo SHANGHAI, April 28 (Reuters) - Shares of Chinese car dealer Pangda Automobile Trade Co Ltd , which raised nearly $1 billion in an IPO, fell 23 percent on their trading debut in Shanghai on ...

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