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Wasu Media share price grows six times
By Ding Yining |
October 19, 2012, Friday
|
Online Edition
Online Edition
WASU Media Holding Co saw its share price hiking more than six times after it resumed trading following the completion of a backdoor listing this August.
The stock closed at 14.42 yuan (US$2.29) on the Shenzhen Stock Exchange today, more than six times the offering price of its private placement.
Zhejiang Genuine Unicom New Material Group Co Ltd, the shell company, reported net losses for three years from 2003 to 2005. It went through a major stock restructuring, ending with Wasu Media Holding as the controlling shareholder through private placement in August.
The restructuring plan was approved by the securities watchdog in June and the private placement set the offering price at 2 yuan per share.
Wasu operates digital television network in Hangzhou, capital of Zhejiang Province and also offers value-added services based on smart TV sets in other parts of the country by collaborating with partners like online shopping site Taobao.com.
In the first half of this year, its revenue reached 689 million yuan and profit was 80.5 million yuan.
The stock closed at 14.42 yuan (US$2.29) on the Shenzhen Stock Exchange today, more than six times the offering price of its private placement.
Zhejiang Genuine Unicom New Material Group Co Ltd, the shell company, reported net losses for three years from 2003 to 2005. It went through a major stock restructuring, ending with Wasu Media Holding as the controlling shareholder through private placement in August.
The restructuring plan was approved by the securities watchdog in June and the private placement set the offering price at 2 yuan per share.
Wasu operates digital television network in Hangzhou, capital of Zhejiang Province and also offers value-added services based on smart TV sets in other parts of the country by collaborating with partners like online shopping site Taobao.com.
In the first half of this year, its revenue reached 689 million yuan and profit was 80.5 million yuan.
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