Markets· Equity· IPO

Zhejiang SSAW Boutique Hotels debuts on Shenzhen Stock Exchange, rose 134%

minutes 2021/09/30 09:19:16

Sep 30, 2021 (China Knowledge) - Zhejiang SSAW Boutique Hotels (301073) opened at RMB 30.25 on its first day trading on the Shenzhen ChiNext Market, an increase of 147% from its IPO price of RMB 12.24.

The shares price ended the day at RMB 28.64, soaring 134% from its issue price. Its intraday high and low were RMB 32.98 and RMB 27.71, respectively. A total of 13.5 mln shares changed hands with a turnover of RMB 408.4 mln, and ending the day with a total market capitalization of RMB 2.3 bln.

Zhejiang SSAW Boutique Hotels offers hotel operation services. The Company provides hotel accommodation, catering, and related supporting services. Zhejiang SSAW Boutique Hotels also provides hotel management and leasing services.

Zhejiang SSAW Boutique Hotels reported in its prospectus that the funds raised from the IPO will be used to design and develop middle and high-end hotel, and to supplement its working capital.

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