The iPhone 5S uses a screen from Japan Display Inc.

(Credit: Apple )

Japan Display, the world’s largest smartphone display supplier, had a rough IPO on Wednesday.

When Japan Display (JDI) listed its shares in a $3.1 billion initial public offering Wednesday, the price at opening dropped 15 percent below the IPO price, as reported by Nikkei.

This despite the fact that the IPO price of 900 yen (about $8.87) was at the lower end of the suggested IPO range, according to The Wall Street Journal.

And the share price got as low as 706 yen on Wednesday.

“The [IPO] pricing was wrong,” Amir Anvarzadeh, director of Japan Equity Sales at BGC Partners, said in CNBC interview.

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