Debutant surges on demand
By Ye Zhen |
November 3, 2012, Saturday
|
Print Edition
Print Edition
AUTO parts maker Zhejiang Shibao Co Ltd surged on its debut yesterday as speculative demand soared after the regulator slashed its fund-raising amount and slowed approval of other listings.
Its shares soared by 627 percent from its offer price of 2.58 yuan (41 US cents) to end at 18.75 yuan in Shenzhen. Trading of its shares was halted three times during the day after it triggered a turnover circuit breaker and hit price caps.
The firm offered 15 million shares and hoped to raise 38.7 million yuan, a plunge of 93 percent from its original target of 510 million yuan. The funds raised marked the smallest domestic initial pubic offering in 15 years.
Zhejiang Shibao will be the only IPO in November as the China Securities Regulatory Commission has slowed approval of applications amid a sluggish market.
Its shares soared by 627 percent from its offer price of 2.58 yuan (41 US cents) to end at 18.75 yuan in Shenzhen. Trading of its shares was halted three times during the day after it triggered a turnover circuit breaker and hit price caps.
The firm offered 15 million shares and hoped to raise 38.7 million yuan, a plunge of 93 percent from its original target of 510 million yuan. The funds raised marked the smallest domestic initial pubic offering in 15 years.
Zhejiang Shibao will be the only IPO in November as the China Securities Regulatory Commission has slowed approval of applications amid a sluggish market.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
