Markets· Equity· IPO

Hangzhou Flariant debuts on Shanghai Stock Exchange, rose 25%

minutes 2021/10/25 09:43:11

Oct 25, 2021 (China Knowledge) - Hangzhou Flariant (605566) opened at RMB 38.65 on its first day trading on the Shanghai Stock Exchange's Main Board, an increase of 20% from its IPO price of RMB 32.21.

The shares price ended the day at RMB 40.2, soaring 25% from its issue price. Its intraday high and low were RMB 46.38 and RMB 38.65, respectively. A total of 16.5 mln shares changed hands with a turnover of RMB 682.8 mln, and ending the day with a total market capitalization of RMB 5.4 bln.

Hangzhou Flariant manufactures and distributes chemical products. The company produces high grade disperse dyes, high grade acid dyes, high grade reactive dyes, and more. Hangzhou Flariant also sells its products to Korea, Japan, America, Southeast Asia, Europe, and other countries and regions.

Hangzhou Flariant reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity of environmentally friendly dye, supplement its working capital, and to build a R&D center.

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