Markets· IPO

Xianheng International Science&Technology debuts on Shanghai Stock Exchange, rose 44%

minutes 2021/07/20 08:28:08

Jul 20, 2021 (China Knowledge) - Xianheng International Science&Technology (605056) opened at RMB 16.38 on its first day trading on the Shanghai Stock Exchange's Main Board, an increase of 20% from its IPO price of RMB 13.65.

The shares price ended the day at RMB 19.66, soaring 44% from its issue price. Its intraday high and low were RMB 19.66 and RMB 16.38, respectively. A total of 0.3 mln shares changed hands with a turnover of RMB 5.5 mln, and ending the day with a total market capitalization of RMB 7.9 bln.

Xianheng International Science&Technology reported in its prospectus that the funds raised from the IPO will be used to invest in Haining production base, build a R&D center, and to supplement its working capital.

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