Markets· IPO

Guangdong Greenway Technology skyrockets 228% on SSE STAR Market debut

minutes 2021/06/11 08:52:44

Jun 11, 2021 (China Knowledge) - Guangdong Greenway Technology (688345) shares skyrockets 228.44% in its first day on the Shanghai Stock Exchange STAR Market today.

The company’s shares price closes at RMB 85.10, higher than its IPO price of RMB 25.91 per share, valuing it at a total market capitalization of RMB 8.51 bln.

Guangdong Greenway reported in its prospectus that the funds raised from the IPO will be used for light-duty vehicle lithium-ion battery projects, further research and development, information management system construction projects, and to supplement its working capital.

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