Markets· Equity· IPO

Cofoe Medical Technology debuts on Shenzhen Stock Exchange, fell 4%

minutes 2021/10/25 09:42:37

Oct 25, 2021 (China Knowledge) - Cofoe Medical Technology (301087) opened at RMB 82.95 on its first day trading on the Shenzhen ChiNext Market, an decrease of 11% from its IPO price of RMB 93.09.

The shares price ended the day at RMB 88.97, falling 4% from its issue price. Its intraday high and low were RMB 93.2 and RMB 80.93, respectively. A total of 17.7 mln shares changed hands with a turnover of RMB 1.6 bln, and ending the day with a total market capitalization of RMB 14.2 bln.

Cofoe Medical Technology manufactures and distributes medical equipment. The company produces health monitoring equipment, rehabilitation aid equipment, medical care equipment, medicine physiotherapy equipment, respiratory support equipment, and others. Cofoe Medical Technology also produces daily necessities, electronics, hygiene products, cosmetics, and other products.

Cofoe Medical Technology reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity of smart health monitoring and medical care products in Changsha China, construct an intelligent medical industrial Park, and to build a R&D center.

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