Markets· IPO

Suzhou Recodeal Interconnect System debuts on SSE STAR Market, rose 536%

minutes 2021/07/22 08:02:38

Jul 22, 2021 (China Knowledge) - Suzhou Recodeal Interconnect System (688800) opened at RMB 68 on its first day trading on the Shanghai Stock Exchange's STAR Market, an increase of 353% from its IPO price of RMB 15.02.

The shares price ended the day at RMB 95.5, soaring 536% from its issue price. Its intraday high and low were RMB 99.69 and RMB 68, respectively. A total of 17.3 mln shares changed hands with a turnover of RMB 1.5 bln, and ending the day with a total market capitalization of RMB 10.3 bln.

Suzhou Recodeal Interconnect System reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity, and to supplement its working capital.

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