Shares in China's Recon Technology Ltd fell in their first day of trading on the NASDAQ, shedding as much as 14.5 percent before paring losses.

The company, an oilfield automation services company, priced its shares at $6.00, but they traded as low at $5.13 earlier in the day.

By afternoon trade, the shares were down 7.2 percent to $5.57 per share.

(Reporting by Matt Daily)