Renaissance Capital BLT Update, page-16

I completely agree, if it were misleading fines would follow. I know the Nasdaq is not trying to be fined. So I would assume that the 27.&change is the actual stock value as of now.
From that we can deduce that the ipo was in threat of being under-sold and/or maybe oversubscribed.
The fact is BNTC tech is much more valuable than an other companies, this artical by ra capital was put out to ensure that a us ipo takes place next week. The artical does this by introducing negative sentiment into the market sentiment in order to cause a sell off effectively lowering of the value of the stock this solves the under-sold problem and a soooth ipo